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Assume that the following balance sheets are stated at book value. ...

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Accounting

Assume that the following balance sheets are stated at book value.
Jurion Co.
Current assets $ 30,100 Current liabilities $ 9,000
Net fixed assets 55,200 Long-term debt 15,200
Equity 61,100
Total $ 85,300 Total $ 85,300
James, Inc.
Current assets $ 6,150 Current liabilities $ 4,280
Net fixed assets 15,810 Long-term debt 3,070
Equity 14,610
Total $ 21,960 Total $ 21,960
Suppose the fair market value of James's fixed assets is $25,710 versus the $15,810 book value shown. Jurion pays $37,110 for James and raises the needed funds through an issue of long-term debt. Construct the postmerger balance sheet under the purchase method of accounting.

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