4 P3.7 Consolidated Balance Sheet Working Paper, Previously Reported Goodwill Progres- sive Corporation acquired all of the outstanding stock of Static Company on June 30, 2019, by issuing 200,000 shares of its Sl par value common stock valued at $80 per share. Direct cash costs associated with the acquisition were $100,000, and the cost of registering and issuing the stock was $500,000. Condensed balance sheet data for the two companies immediately prior to the combination are given below. Progressive Balance Sheets (in thousands) Book Value $ 8.000 7,000 Cash and receivables Inventory Equity method investments Plant assets, net Copyrights Goodwill Static Book Value Fair Value $2,000 $1,500 2,400 2.100 600 4,000 3,600 1,000 200 3,500 500 10,000 59,300 10.000 1.000 Total assets $26.000 $2,000 3,400 Current liabilities Noncurrent abilities Common stock par Additional paid-in capital Potained eamings Total abilities and equity $ 6.000 4.000 100 900 15,000 $26.000 $2,000 3.300 100 400 3.500 $9.300 Required Prepare the entry Irogressive made to read the cuisition on its own book Prepare a schedule calculating the reported will for this acquisition Trepare a working paper to consolide the of Progressive and statical June 30, 2019 trepare the dated balance show 2019 in form