The balance sheets of Pittsburg Company and Atlanta Company as of January 1, 2020, are shown below. On that date Pittsburg purchased the net assets of Atlanta. Pittsburg Company issued 25,000 shares of their common stock for the net assets of Atlanta Company. The market value of Pittsburg's shares was $48 per share, the par value is $16 per share. The fair values of Atlanta Company's assets and liabilities are equal to their book values with the exception of buildings and equipment, which has an estimated fair value of $720,000