2. Royce $560,00 the financ two cry Accounting Inc. and 1. The following information is from the Dec 31, 2019 financial statements for Accounting in Corp. The information reflects the records immediately prior to their combination Revenues Expenses Net Income Accounting Inc. Club Corp. 1,300,000 500,000 (1,180,000) (290,000) 120,000 210,000 THENTALE OWOH Retained Earnings, Jan. 1, 2019 700,000 Net Income (from above) 120,000 Dividends Paid (110,000) Retained Earnings, Dec 31, 2019 710,000 500,000 210,000 (110,000) 600,000 mnogo Cash Receivables & Inventory Buildings, net Equipment, net Total Assets 160,000 240.000 700.000 700.000 1,800,000 120,000 240,000 350,000 600,000 1,310,000 Liabilities 250,000 Common Stock 750.000 Additional Paid-in Capital 90,000 Retained Earnings, Dec 31, 2017 710,000 Total Liabilities & SEQ 1 ,800,000 195,000 430,000 85,000 600,000 1.310.000 1 HONDURI o od On December 31, 2019, Accounting issued 55,000 new shares of its $10 par value stock in exchange for all the outstanding shares Club Accounting's stock had a fair value on that date of $40 per share. Accounting paid $34,000 to an investment bank for assisting in the arrangements and $25,000 in stock issuance costs related to the acquisition. At the time of the acquisition, Club's buildings were undervalued on its financial records, as the buildings' fair value exceeded the book value by $60,000. After the acquisition, Club will retain its incorporation a.) Compute consolidated net income for the year ended Dec. 31, 2019 (label each component). b.) Determine consolidated Additional paid-in Capital at Dec 31, 2019 (label each component)