The balance sheets of Regal Company and Sour Corporation contained the following balances on January 1, 20X1:

\section*{Required}
Prepare a balance sheet for the combined entity immediately after Regal Company acquires the net assets of Sour Corporation on January 1, 20X1, by issuing 8,000 shares of its voting common stock in a pooling of interests.

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Regal Company Balance Sheet January 1, 20X1 Cash and Receivables $100,000 Accounts Payable $ 50,000 Inventory 200.000 Common Stock Land 50,000 ($10 par value) 300,000 Buildings and Equipment 400,000 Additional Paid-In Capital 100,000 Less: Accumulated Retained Earnings 150,000 Depreciation (150,000) Total Assets $600,000 Total Liabilities and Equities $600.000