Hi, please help me solve this question. Please show all the calculations and work, so I can understand how you reached the numbers. Thank you.

Pamrod Manufacturing acquired all the assets and liabilities of Stafford Industries on January 1, 20X2, in exchange for 4,500 shares of Pamrods $20 par value common stock. Balance sheet data for both companies just before the merger are given as follows:

	Pamrod Manufacturing								Stafford Industries
Balance Sheet Items	Book Value				Fair Value				Book Value				Fair Value
Assets
Cash	$	81,000			$	81,000			$	24,000			$	24,000
Accounts Receivable		101,000				101,000				53,000				53,000
Inventory		217,000				384,000				104,000				152,000
Land		51,000				93,000				41,000				28,000
Buildings and Equipment		614,000				548,000				413,000				344,000
Less: Accumulated Depreciation		(246,000	)							(131,000	)
Total Assets	$	818,000			$	1,207,000			$	504,000			$	601,000
Liabilities and Equities
Accounts Payable	$	70,000			$	70,000			$	7,000			$	7,000
Bonds Payable		305,000				315,000				151,000				144,000
Common Stock:
$20 par value		186,000
$5 par value										90,000
Additional Paid-In Capital		33,000								12,000
Retained Earnings		224,000								244,000
Total Liabilities and Equities	$	818,000							$	504,000

Pamrod shares were selling for $140 on the date of acquisition.

Required:

A. Prepare a Journal entry to record the acquisition in Pamrods books.

B. Prepare a balance sheet for the combined enterprise immediately following the business combination.

Required A: Record the acquisition of Stafford Industries' net assets.

Note: Enter debits before credits.

Event	General Journal	Debit	Credit
1

Required B: Prepare a balance sheet for the combined enterprise immediately following the business combination.

Note: Amounts to be deducted should be indicated by minus sign.

PAMROD MANUFACTURING AND SUBSIDIARY
Combined Balance Sheet
January 1, 20X2
Assets		Liabilities and Equities
Total Assets		Total Liabilities and Equities