Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts.

	Padre Company					Sol Company
	Book Values					Book Values					Fair Values
	12/31					12/31					12/31
Cash		$	424,000				$	64,400				$	64,400
Receivables			269,250					307,000					307,000
Inventory			455,000					252,000					307,600
Land			655,000					170,000					146,100
Building and equipment (net)			617,500					292,000					353,100
Franchise agreements			257,000					235,000					274,000
Accounts payable			(394,000	)				(152,000	)				(152,000	)
Accrued expenses			(181,000	)				(53,000	)				(53,000	)
Long-term liabilities			(917,500	)				(487,500	)				(487,500	)
Common stock$20 par value			(660,000	)
Common stock$5 par value								(210,000	)
Additional paid-in capital			(70,000	)				(90,000	)
Retained earnings, 1/1			(400,000	)				(302,000	)
Revenues			(1,019,250	)				(396,900	)
Expenses			964,000					371,000

Note: Parentheses indicate a credit balance.

On December 31, Padre acquires Sols outstanding stock by paying $184,000 in cash and issuing 16,800 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $25,500 as well as $6,500 in stock issuance costs.

Determine the value that would be shown in Padres consolidated financial statements for each of the accounts listed.

Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts.

	Padre Company					Sol Company
	Book Values					Book Values					Fair Values
	12/31					12/31					12/31
Cash		$	424,000				$	64,400				$	64,400
Receivables			269,250					307,000					307,000
Inventory			455,000					252,000					307,600
Land			655,000					170,000					146,100
Building and equipment (net)			617,500					292,000					353,100
Franchise agreements			257,000					235,000					274,000
Accounts payable			(394,000	)				(152,000	)				(152,000	)
Accrued expenses			(181,000	)				(53,000	)				(53,000	)
Long-term liabilities			(917,500	)				(487,500	)				(487,500	)
Common stock$20 par value			(660,000	)
Common stock$5 par value								(210,000	)
Additional paid-in capital			(70,000	)				(90,000	)
Retained earnings, 1/1			(400,000	)				(302,000	)
Revenues			(1,019,250	)				(396,900	)
Expenses			964,000					371,000

Note: Parentheses indicate a credit balance.

On December 31, Padre acquires Sols outstanding stock by paying $184,000 in cash and issuing 16,800 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $25,500 as well as $6,500 in stock issuance costs.

Inventory

Land

Buildings and Equipment

Franchise Agreements

Goodwill

Revenues

Additional Paid in Capital

Expenses

Retained earnings 1/1

Retained earnings 12/31