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Dad Corp. purchased 100% of Daughter Corp.'s outstanding capital stock for $200,000 cash. Immediately before the acquisition, the balance sheets of both corporations reported the
Dad Corp. purchased 100% of Daughter Corp.'s outstanding capital stock for $200,000 cash. Immediately before the acquisition, the balance sheets of both corporations reported the following: Dad Assets Liabilities Common stock Retained earnings Liabilities and stockholder's equity Daughter 2,000,000 750,000 1,000,000 250,000 2,000,000 750,000 400,000 310,000 40,000 750,000 At the date of purchase, the fair value of Daughter's assets was $50,000 more than the aggregate carrying amounts. In the consolidated balance sheets prepared immediately after the acquisition, what is the consolidated stockholders' equity amount? Show your work
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