Georgia effectively gained control over Atlanta by acquiring 55% of Atlanta's common shares issuing 500,000 shares with market value of $1.25 per share to Atlanta's shareholders on December 31, 2015. There was an assessment of $475,000 for Atlanta's non-controlling shares. The balance sheets of Georgia (including the effect of the acquisition) and Atlanta on December 31, 2015 are shown below: Post-Acquisition Georgia Atlanta Cash 300,000 125,000 A/R 170.000 500,000 Inventory 330,000 120,000 Other Current Assets 240,000 50,000 Equipment 620,000 375,000 Accumulated Depreciation Equipment (120,000) (75,000) Land 100,000 Buildings (net) 600,000 0 Goodwill 0 75,000 Investment in Atlanta 625.000 0 Total Assets 2,765,000 1,270,000 Account Payable (750,000) (650,000) LT Liabilities (830,000) (102,000) Common Stock and APIC (625,000) (400,000) Retained earnings, 12/31/15 (560.000) (118.000) Total Liabilities and (2,765,000) (1,270,000) equity