Assume that a parent company acquires its subsidiary on 1/1/2016 by exchanging 41,500 shares of its $1 par value common stock . The market value of the common stock on acquisition date is $36 per share. With regards to the outstanding voting shares of the subsidiary you have been charged to prepare a consolidation of these two entities at 12/31/2015. on acquisition date 1/1/2016 all of the subsidiary assets and liabilities had fair value which equals their book value except Property Plant and Equipment asset which are undervalued by $81,000 (Depreciation is $5400 per year). The subsidiary has an unrecorded patent with a fair value of $261,000 (Amortization $32,625 per year) and parent records $162,000 of Goodwill in the transaction.

Required : Prepare the consolidated balance sheet as at 1/1/2016