A Corporation acquired 100% of the outstanding, voting common stock of B Corporation on January 1, A Corporation uses the accrual basis of accounting. 2021. The book value and fair value of B Corporations accounts on that date (prior to creating the combination) are as follows, along with the book value of A Corporations accounts:

	A Corporation Book Value		B Corporation Book Value		B Corporation Fair Value
Retained earnings, 1/1/21	$	280,000	$	210,000
Cash and receivables		240,000		160,000	$	160,000
Inventory		230,000		180,000		210,000
Land		320,000		220,000		240,000
Buildings (net)		480,000		240,000		280,000
Equipment (net)		120,000		90,000		90,000
Liabilities		650,000		540,000		430,000
Outstanding, voting common stock		380,000		90,000
Additional paid-in capital		80,000		50,000

Assume that A Corporation issued 15,000 shares of outstanding, voting common stock with a $5 par value and a $50 fair value for all of the outstanding shares of B Corporation. What will be the consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2021 balances) as a result of this acquisition transaction?

• $60,000 and $490,000

• $360,000 and $260,00

• $130,000 and $490,000

• $755,000 and $280,000

• None of the other choices are correct.