On January 1, 2016, Paxon Corporation acquired all of the outstanding common stock of Saxon for $1.8 billion cash. Immediately after the combination, the nunbers of both compani es' balance sheets are as follows: on Balance sheet Paxon Dr (Cr) consolidation ad ius tments consolidated B/S Dr (Cr) Saxon Dr (Cr) 720 900 300 Cash and receivables Inventor Long-term investments Investment in Saxon Goodwil1 Land Buildings and equipment Accunulated depreciation Total assets Current liabilities Long-term debt Common stock, par value Additional paid-in capit Retained earnings Total 1, 060 1, 700 2, 000 175 600 650 3, 400 1,000 7, 810 (1, 500) (2, 000) 2, 695 (1, 000) (1, 200) 2, 610 (7, 810) (350) 845 (2,695) Several of Saxon' s assets and liabilities had fair values that were different from book values. The fair value estimates are as follows