Case Inc. acquired all Frey Inc.'s outstanding $26 par common stock on December 31, 20X3, in exchange for 43,000 shares of its $26 par common stock. Case's common stock closed at $57.50 per share on a national stock exchange on December 31, 20X3. Both corporations continued to operate as separate businesses maintaining separate accounting records with years ending December 31.

On December 31, 20X4, after year-end adjustments and the closing of nominal accounts, the companies had condensed balance sheet accounts.

Assets
Cash		$	834,000			$	336,000
Accounts & Other Receivables			2,148,000				838,000
Inventories			2,320,000				1,053,000
Land			661,000				314,000
Depreciable Assets (net)			4,588,000				1,989,000
Investment in Frey Inc.			2,838,500
Long-Term Investments & Other Assets			876,000				399,000
Total Assets		$	14,265,500			$	4,929,000
Liabilities and Stockholders' Equity
Accounts Payable and Other Current Liabilities		$	2,462,000			$	1,143,000
Long-Term Debt			1,893,000				1,280,000
Common Stock, $26 Par Value			3,186,000				1,118,000
Additional Paid-In Capital			2,092,000				175,000
Retained Earnings			4,632,500				1,213,000
Total Liabilities and Stockholders' Equity		$	14,265,500			$	4,929,000

Additional Information
1.	Case uses the equity-method of accounting for its investment in Frey.
2.	On December 31, 20X3, Frey's assets and liabilities had fair values equal to the book balances with the exception of land, which had a fair value of $646,500. Frey had no land transactions in 20X4.
3.	On June 15, 20X4, Frey paid a cash dividend of $5 per share on its common stock.
4.	On December 10, 20X4, Case paid a cash dividend totaling $271,000 on its common stock.
5.	On December 31, 20X3, immediately before the combination, the stockholders' equity balance was shown.

Case

Frey

Common Stock

$

2,186,000

$

1,118,000

Additional Paid-In Capital

1,659,000

175,000

Retained Earnings

3,427,500

847,000

$

7,272,500

$

2,140,000

6.	The 20X4 net income amounts according to the separate books of Case and Frey were $895,000 (exclusive of equity in Frey's earnings) and $581,000, respectively.

Required:

Prepare a consolidated balance sheet worksheet for Case and its subsidiary, Frey, for December 31, 20X4.