On January 1, 20X3, Guild Corporation reported total assets of ($ 470,000), liabilities of ($ 270,000), and

Question:

On January 1, 20X3, Guild Corporation reported total assets of $\$ 470,000$, liabilities of $\$ 270,000$, and stockholders' equity of $\$ 200,000$. At that date, Bristol Corporation reported total assets of $\$ 190,000$, liabilities of $\$ 135,000$, and stockholders' equity of $\$ 55,000$. Following lengthy negotiations, Guild paid Bristol's existing shareholders $\$ 55,000$ in cash for 100 percent of the voting common shares of Bristol.

\section*{Required}

Immediately after Guild Corporation purchased the shares of Bristol:

a. What amount of total assets did Guild report in its balance sheet?

b. What amount of total assets was reported in the consolidated balance sheet?

c. What amount of total liabilities was reported in the consolidated balance sheet?

d. What amount of stockholders' equity was reported in the consolidated balance sheet?

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