Here are the trial balances for the Pressure Co. and the Solution...

Here are the trial balances for the Pressure Co. and the Solution Co. just before the books were closed on December 31, 2022.
Fair market values for selected Solution Co. accounts are shown.

		Pressure Trial Balance	Solution Trial Balance	Solution Fair Market Values
Current assets		170,000	75,000	85,000
Noncurrent assets (net)		255,000	95,000	130,000
Liabilities		(65,000)	(45,000)	(45,000)
Common Stock (Par)	$25	(300,000)
Common Stock (Par)	$50		(60,000)
Addional paid-in capital		(10,000)	(20,000)
Retained earnings 1/1/19		(60,000)	(25,000)
Revenues		(110,000)	(90,000)
Expenses		120,000	70,000

On December 31, 2022, Pressure Co. purchased 100% of Solution Company’s stock by issuing					4,500	shares of its own
stock and paying	$100,000	cash. On that date, market value of Pressure Company’s stock was				$36	per share.
There were no combination costs or stock issuance costs.
Solution Co. was dissolved immediately after the take over and no longer existed independently.
Make all necessary journal entries in Pressure Company’s records to recognize this acquisition.

Here are the trial balances for the Pressure Co. and the Solution…