The following balance sheets were prepared for Adam Corporation and Best Company on January \(1,20 \mathrm{X} 2\), just before they entered into a business combination:

Adam acquired all of the assets and liabilities of Best Company on January 1, 20X2, in an exchange of common shares treated as a pooling of interests. Adam issued 8.000 shares of stock to complete the business combination. Adam's stock was selling at \(\$ 60\) per share at the date of issue.
\section*{Required}
Prepare a balance sheet for the combined company immediately following the acquisition.

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Item Book Value Cash and Receivables Inventory Buildings and Equipment $150,000 Adam Corporation Fair Value $150,000 Book Value $ 90.000 300.000 380.000 600,000 430.000 Less: Accumulated Depreciation (250,000) Total Assets $800,000 $960,000 Best Company 70.000 250,000 (80.000) $330,000 Fair Value $ 90,000 160.000 240,000 Accounts Payable $ 75.000 Notes Payable Common Stock: $8 par value $6 par value 200.000 $ 75,000 215.000 $ 50,000 30.000 $490,000 $ 50.000 35,000 180,000 Additional Paid-In Capital 140.000 90,000 55.000 Retained Earnings 205,000 Total Liabilities and Equities $800,000 105,000 $330.000