A parent company acquires its subsidiary by exchanging $150,000$ shares of its Common Stock, with a fair value on the acquisition date of $$17\mathrm{.}40$ per share, for all of the outstanding voting shares of the investee.

Provide the following consolidated amounts on the date of acquisitioBalance sheet Parent Subsidiary

Assets:

Cash $$870,000$ $$435,000$

Accounts receivable $1,305,000870,000$

Inventory $2,175,0001,740,000$

Equity investment $2,610,0000$

Property, plant and equipment $($PPE$),$ net $4,350,0002,610,000$

$$11,310,000$ $$5,655,000$

Liabilities and stockholders' equity:

Accounts payable $$435,000$ $$435,000$

Accrued liabilities $870,000870,000$

Long$-$term liabilities $3,480,0001,740,000$

Common stock $1,305,000522,000$

APIC $2,175,000783,000$

Retained earnings $3,045,0001,305,000$

$$11,310,000$ $$5,655,000$

Provide the following consolidated amounts on the date of acquisition:

Cash Answer $1$

Equity Invesstement Answer $2$

Property, plant and equipment $($PPE$),$ net Answer $3$

Accounts Payable Answer $4$

Common Stock Answer $5$

Retained Earnings Answer $6$