Problem 2 The balance sheet and the current fair values of EXCEL Corporation on March 31, 2020 were as follows: EXCEL Corporation Balance Sheet March 31, 2002 Assets Liabilities and Shareholders' Equity BV CFV BV CFV Other Current Assets..... 500,000 575,000 Current liabilities. 300,000 300,000 Plant Assets (net).. 1,000,000 1,200,000 Liabilities 400,000 450,000 Patent (net). 100,000 50,000 Common Stock (10 par). 100,000 Retained Earning. 800,000 Total Assets. 1,600,000 Total Liab. & SHES. 1,600,000 .......... On April 1, 2020, VALUE Corporation issued 50,000 shares of its no-par, no stated value common stock (CFV Br 14 a share) and Br 225,000 cash for the net assets of EXCEL Corporation in a purchase type business combination. Of the Br 125,000 out-of-pocket costs paid by VALUE Corporation on April 14, 2020, Br 50,000 were legal fees and finder's fees related to the business combination and the remaining related to the issuance of common stock. Required: prepare journal entries for VALUE Corporation on March 31, 2020 to record the business combination with EXCEL Corporation