Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1 2021. To obtain these shares, Hlynn pays $400 easi in thousands) and issues 10,000 shares of $20 per value common stock on this date. Flynn's stock had a fair value of $35 per share on that date. Flynn also pays 515 in thousands) to a local investment firm for arranging the acquisition. An additional S10 (in thousands) was paid by Flynn in stock issuance costs 3 The book values for both Flynn and Mocek immediately preceding the acquisition follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $40 (in thousands) volue. The figures below are in thousands Any related question also is in thousands Cash Receivables Inventory Land Buildings (net) Equipment Accounts payable Long-term liabilities Common stock Additional paid in capital Retained earnings Flynn, Inc $900 480 660 300 1,200 360 480 1,140 1, eee 200 1,080 Macek Company Book Fair Value Value $ 80 $ 80 180 160 260 300 120 130 220 280 100 75 60 60 340 300 80 e 480 Under the acquisition method. what amount will be reported for consolidated retained earnings