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AB Inc. acquired 100% of the voting common stock of CD Inc. on January 1, 2013. On that date, AB had total liabilities with a

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AB Inc. acquired 100% of the voting common stock of CD Inc. on January 1, 2013. On that date, AB had total liabilities with a book value $680,000 and a fair value of $690,000. CD had total liabilities witha book value of $430,000 and a fair value of $450,000. Assuming both companies continue to operate separately, how much total liabilities that would appear on the consolidated Balance Sheet at January 1, 2013? a. None of the given answers. O b. $1,130.000 O c. $1,120.000 O d. $1,110,000 O e. $1,070,000

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