Question 3: (8 points) B1, C1, C3 At the end of 2018 ABC Company paid $600,000 to purchase the net assets of XYZ Company and $100,000 for FH Company. The net book value of the purchased assets was $600,000 for XYZ and $70,000 for HF. The net fair market value for XYZ equals to its net book value. The net fair market value of HF exceeds its net book value by $50,000. ABC paid legal fees of $40,000 in connection with the combination. Instruction: Prepare journal entries on December 31, 2018, for ABC Corporation