Jackson Company acquires 100% of the stock of Clark Corporation on January 1, 2020, for $4,100 cash. Any excess of consideration transferred over fair value of net assets acquired is considered goodwill with an indefinite life. As of that date Clark has the following trial balance: Debit Credit Cash $ 500 Accounts receivable 600 Inventory 900 Buildings (net) (5 year life) 1,600 Equipment (net) (2 year life) 1,000 Land 900 Accounts payable $ 400 Long-term liabilities (due 12/31/22) 1,900 Common stock 1,000 Additional paid-in capital 700 Retained earnings 1,500 Total $ 5,500 $ 5,500 Net income and dividends reported by Clark for 2020 and 2021 follow: 2020 2021 Net income $ 120 $ 140 Dividends 40 50 The fair value of Clarks net assets that differ from their book values are listed below: Fair Value Buildings $ 1,200 Equipment 1,350 Land 1,300 Long-term liabilities 1,750

1. The amount of Clarks land that would be reported in a December 31, 2020 and 2021, consolidated balance sheet.

2. The amount of Clarks long-term liabilities that would be reported in a December 31, 2020 and 2021, consolidated balance sheet.