Balance sheets for Prego Company and Sprague Company as of December 31, 2013, follow: Cash Accounts receivable (net) Inventory Property and equipment (net) Land Prego Company Sprague Company $702,700 $111,400 883,900 228,000 549,400 59,800 1,924,200 468,400 119,000 94,500 $4,179,200 $962,100 Total assets Accounts payable Notes payable Long-term debt Common stock Other contributed capital Retained earnings Total equities $301,300 591,100 351,300 1,814,900 548,200 572,400 $4,179,200 $152,600 60,700 90,600 496,900 80,100 81,200 $962,100 The fair values of Sprague Company's assets and liabilities are equal to their book values. Prepare a consolidated balance sheet as of January 1, 2014, assuming on January 1, 2014, Prego Company purchased 90% of the outstanding common stock of Sprague Company for $592,380. (List assets in order of liquidity.) PREGO COMPANY AND SUBSIDIARY Consolidated Balance Sheet