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omework i Saved On June 30, 2020, Wisconsin, Inc., issued $109,300 in debt and 22,800 new shares of its $10 par value stock to Badger
omework i Saved On June 30, 2020, Wisconsin, Inc., issued $109,300 in debt and 22,800 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2020, were as follows (credit balances in parentheses) Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 6/30 Cash Receivables and inventory Patented technology (net) Equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings Total liabilities and equities Wisconsin $ (1,001,000) 741,000 $ (260,000) $ (815,000 (260,000) 103,500 $ (971, 500) $ 62,500 463,000 927,000 728,000 $ 2,180,500 $ (579,000) (360,000) (270,000) (971, 500) $12,180,500) Badger $ (428,000) 297,000 $ (131,000) $ (277,000) (131, 000) 0 $ (408,000) $ 122,000 172,000 321,000 637,000 $ 1,252,000 (374,000) (200,000) (270,000) (408,000) $(1, 252,000) Wisconsin also paid $31,400 to a broker for arranging the transaction. In addition, Wisconsin paid $47,400 in stock issuance costs. Badger's equipment was actually worth $757,000, but its patented technology was valued at only $293,300. What are the consolidated balances for the following accounts? (Input all amounts as positive values) Amounts Accounts a. Net income b. Retained earnings, 1/1/20 Patented technology (net) d. Goodwill e. Liabilities f common stock g. Additional paid-in capital
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