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Company A acquired 100% of Company B on January 1, 2013, at a premium to book value and wants to prepare a consolidated balance sheet

Company A acquired 100% of Company B on January 1, 2013, at a premium to book value and wants to prepare a consolidated balance sheet for the combined entity as of December 31, 2013. The fina 2013: Income Statement Totals Company A ($) Company B ($) Sales 400,000 250,000 Cost of Goods Sold (150,000) (100,000) Depreciation (30,000) (25,000) Net Income 220,000 125,000 Statement of Retained Earnings Beginning Balance 230,000 100,000 Net Income 220,000 125,000 Dividends Declared (20,000) (10,000) Ending Balance 430,000 215,000 Balance Sheet Totals Cash 20,000 40,000 Accounts Receivable 30,000 25,000 Inventory 60,000 70,000 Investment in Company B 200,000 Land 250,000 300,000 Buildings & Equipment 700,000 220,000 Accumulated Depreciation Total Assefs Accounts Payable Debt Outstanding (450,000) (120,000) 1,110,000 535,000 60,000 50,000 300,000 100,000 Common Stock Retained Earnings 300,000 170,000 430,000 215,000 What will the total liabilities and equity be for the consolidated entity at year-end

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