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Phone Corporation acquired 70 percent of Smart Corporation's common stock on December 31, 20X4, for $102,200. At that date. the fair value of the noncontrolling interest was $43,800. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Item Phone Smart Corporation Corporation Cash $ 50,300 $ 21,000 Accounts Receivable 90.000 44,000 Inventory 130.000 75.000 Land 60,000 30.000 Buildings & Equipment 410,000 250,000 Less: Accumulated Depreciation (150,000) (80,000) Investment in Smart Corporation 102.200 Total Assets $692.500 $340.000 Accounts Payable $152,500 $ 35,000 Mortgage Payable 250,000 180,000 Common Stock 80.000 40.000 Retained Earnings 210.000 85.000 Total Liabilities & Stockholders' Equity $692,500 $340,000 At the date of the business combination, the book values of Smart's assets and liabilities approximated fair value except for inventory, which had a fair value of $81,000, and buildings and equipment, which had a fair value of $185,000. At December 31. 20X4. Phone reported accounts payable of $12,500 to Smart, which reported an equal amount in its accounts receivable. REQUIRED: What is the TOTAL ASSETS reported in the Consolidated Financial Position of Phone Corporation and Subsidiary as at 31 December 20x4