On February 1, Piscina Corporation completed a combination with Swimwear Company. At that date, Swimwears account balances were as follows:

		Book Values			Fair Values
Inventory	$	735,000		$	809,000
Land		805,000			1,129,000
Buildings		1,265,000			1,389,000
Unpatented technology		0			1,670,000
Common stock ($10 par value)		(750,000	)
Retained earnings, 1/1		(1,907,000	)
Revenues		(888,000	)
Expenses		740,000

Piscina issued 30,000 shares of its common stock with a par value of $25 and a fair value of $175 per share to the owners of Swimwear for all of their Swimwear shares. Upon completion of the combination, Swimwear Company was formally dissolved.

Prior to 2002, business combinations were accounted for using either purchase or pooling of interests accounting. The two methods often produced substantially different financial statement effects. For the scenario above,

What are the respective consolidated values for Swimwears assets under the pooling method and the purchase method?

Under each of the following methods, how would Piscina account for Swimwears current year, but prior to acquisition, revenues and expenses?

Pooling of interests method.

Purchase method.

What are the respective consolidated values for Swimwears assets under the pooling method and the purchase method?

Purchase Pooling Inventory Land Buildings Unpatented technology Goodwill Total