Prepare balance sheet after acquisitionComparative balance sheets for Pin and San Corporat...

Prepare balance sheet after acquisition

Comparative balance sheets for Pin and San Corporations at December 31, 2010, are as follows (in thousands):

On January 2, 2011, Pin issues 60,000 shares of its stock with a market value of $40 per share for all the outstanding shares of San Corporation in an acquisition. San is dissolved. The recorded book values reflect fair values, except for the buildings of Pin, which have a fair value of $ 1,600,000, and the current assets of San, which have a fair value of $400,000.

Pin pays the following expenses in connection with the business combination

REQUIRED: Prepare the balance sheet of Pin Corporation immediately after the acquisition.