Company A acquired 100% of Company B on January 1, 2013, at book value and wants to consolidated balance sheet for the combined entity as of December 31, 2013. The financial statements for each individual entity below are for the period ending December 31, 2013:

What will the total liabilities and equity be at year-end for the consolidated entity?

Income Statement Co. A. Co. B.

Sales 500,000 300,000

COGS (150,000) (105,000)

Depreciation (50,000) (20,000)

Income From Co. B 175,000

Net Income 475,000 175,000

Statement of R/E

R/E (Jan1) 100,000 50,000

Net Income during 2013 250,000 175,000

Dividends Declared (50,000) (25,000)

R/E (Dec31) 300,000 200,000

Balance Sheet Totals

Cash 50,000 10,000

A/R 80,000 30,000

Inventory 40,000 60,000

Investment in B Co. 170,000

Land 200,000 300,000

Buildings & Equip. 630,000 300,000

Accum Dep. (250,000) (200,000)

Total Assets 920,000 500,000

A/P 30,000 80,000

Debt Outstanding 150,000 100,000

Common Stock 440,000 120,000

R/E 300,000 200,000

Total Liab & Equity 1,120,000 500,000