Smart Corporation acquires 100 percent of the common stock of Wisner Company on January 1, 20X8, by issuing 50,000 shares of \(\$ 4\) par value common stock. Smart Corporation shares are selling for \(\$ 11\) at the time of issue. Balance sheet data of the two companies just before the acquisition are summarized as follows:

\section*{Required}
Indicate the dollar amounts to be reported in the consolidated balance sheet for each of the following items under the alternatives indicated.

a. Acquisition of shares by Smart Corporation recorded as a pooling of interests:
(1) Total assets.
(2) Total liabilities.
(3) Total stockholders' equity.

b. Acquisition of shares by Smart Corporation recorded as a purchase:
(1) Total assets.
(2) Total liabilities.
(3) Total stockholders' equity.

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Smart Corporation Wisner Company Book Value Fair Value Book Value Fair Value Total Assets $800,000 $970,000 $400,000 $610,000 Total Liabilities $200,000 215.000 $100.000 110,000 Total Stockholders' Equity 600.000 300.000 Total Liabilities and Stockholders' Equity $800.000 $400.000