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

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

On December 31, Padre acquires Sols outstanding stock by paying $137,000 in cash and issuing 17,700 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $25,400 as well as $9,900 in stock issuance costs.

Determine the value that would be shown in Padres consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.)

Worksheet Amounts
Inventory $934,200
Land $924,800
Buildings and equipment $1,100,000
Franchise agreements $515,200
Goodwill
Revenues $990,500
Additional paid-in capital
Expenses
Retained earnings, 1/1 $625,000
Retained earnings, 12/31 $681,500

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