On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: Cash Accounts Receivable Inventory Land Plant assets Accumulated Depreciation Investment in Soopy Total assets Punch $34,000 144,000 132,000 68,000 700,000 (240,000) 392,000 $ 1,230,000 Soopy $206,000 26,000 38,000 32,000 300,000 (60,000) $ 542.000 Accounts payable Capital stock Retained earnings $206,000 800,000 224.000 $142,000 300,000 100,000 Accounts payable Capital stock Retained earnings Total liabilities & equities $206,000 800,000 224,000 $ 1,230,000 $142,000 300,000 100,000 $ 542,000 At the date of the acquisition, the book values of Soopy's net assets were equal to the fair value except for Soopy's inventory, which had a fair value of $60,000. What is the amount of total assets in the consolidated balance sheet of the combined economic entity? O A $1,380,000 O B. $1,402,000 O $1,470,000 OD. $1,875,000