Use the following information to answer problems $2-13$ and $2-14($Algo$)$

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On May $1,$ Donovan Company reported the following account balances:

Current assets $ $133,500$

Buildings and equipment $($net$)234,500$

Total assets $ $368,000$

Liabilities $ $93,500$

Common stock $150,000$

Retained earnings $124,500$

Total liabilities and equities $ $368,000$

On May $1,$ Beasley paid $$445,600$ in stock $($fair value$)$ for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $$19,500$ in accounts payable for legal and accounting fees.

Beasley also agreed to pay $$87,600$ to the former owners of Donovan contingent on meeting certain revenue goals during the following year. Beasley estimated the present value of its probability adjusted expected payment for the contingency at $$24,500.$ In determining its offer, Beasley noted the following:

Donovan holds a building with a fair value $$30,900$ more than its book value.

Donovan has developed unpatented technology appraised at $$24,400,$ although is it not recorded in its financial records.

Donovan has a research and development activity in process with an appraised fair value of $$54,300.$ The project has not yet reached technological feasibility.

Book values for Donovan$$s current assets and liabilities approximate fair values.

Problem $2-13($Algo$)($LO $2-4,2-5)$

What should Beasley record as total liabilities incurred or assumed in connection with the Donovan merger?