6 points Cash Receivables Inventory Land Building and equipment (net) Franchise agreements Accounts payable Accrued expenses Long-term liabilities. Common stock-$20 par value Common stock-$5 par value Additional paid-in capital Retained earnings, 1/1 Revenues Expenses Padre Company Book Values 12/31 $ 400,000 220,000 410,000 600,000 600,000 220,000 (300,000) Accounts (90,000) (900,000) (660,000) Inventory Land Buildings and equipment Franchise agreements Goodwill Revenues Additional paid-in capital Expenses Retained earnings, 1/1 Retained earnings, 12/31 (70,000) (390,000) (960,000) 920,000 Answer is complete but not entirely correct. Note: Parentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $360,000 in cash and issuing 10,000 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $20,000 as well as $5,000 in stock issuance costs. Sol Company Book Values 12/31 $ 120,000 300,000 210,000 130,000 270,000 Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.) Amounts $ 670,000 $ 710,000 ( $ 930,000 $ 440,000 $ 80,000 $ 960,000 $ 265,000 $ 940,000 ( $390,000 $ 844,200 190,000 (120,000) (30,000) (510,000) x (210,000) (90,000) (240,000) (330,000) 310,000 Fair Values 12/31 $ 120,000 300,000 260,000 110,000 330,000 220,000 (120,000) (30,000) (510,000)