24. On January 1, 2005, Romeo, Incorporated, exchanged 10,000 shares of previously unissued common stock for all of the outstanding shares of Juliet Company. Romeos common stock had a $20 par value but a fair market value $48 per share. On the date of the exchange, Juliet reported $370,000 in stockholders equity: Common Stock $200,000 Additional paid-in capital 50,000 Retained Earnings 120,000 Romeo originally offered only 8,000 shares for shares of Juliets stock but raised that bid based on favorable earnings projections. In addition, equipment held by the subsidiary (with a 10-year remaining life) was estimated to be undervalued on the accounting records by $70,000. Goodwill is always amortized by these companies over a 20-year period. During 2005, Juliet reported net income of $80,000 and paid cash dividends of $60,000. In accounting for this investment, Romeo utilized the equity method. Following are the December 31, 2006, trial balances for these two companies. Determine the consolidated balances that would be reported by this combination.