1. Boss Co. issued its common stock in exchange for the common stock of Underling Corp. in an acquisition. At the date of the combination, Boss had land with a book value of $250,000 and a fair value of $620,000. Underling had land with a book value of $100,000 and a fair value of $180,000. There were no additional land transactions on the acquisition date (i.e., purchases and/or sales).

What was the consolidated balance for Land in a consolidated balance sheet prepared on the date of the acquisition? (Please show work)