On January 1, 2017, Mona, Inc., acquired 80 percent of Lisa Companys common stock as well as 60 percent of its preferred shares. Mona paid $69,000 in cash for the preferred stock, with a call value of 110 percent of the $50 per share par value. The remaining 40 percent of the preferred shares traded at a $38,000 fair value. Mona paid $580,000 for the common stock. At the acquisition date, the noncontrolling interest in the common stock had a fair value of $145,000. The excess fair value over Lisas book value was attributed to franchise contracts of $70,000. This intangible asset is being amortized over a 40-year period. Lisa pays all preferred stock dividends (a total of $12,000 per year) on an annual basis. During 2017, Lisas book value increased by $54,000.On January 2, 2017, Mona acquired one-half of Lisa's outstanding bonds payable to reduce the business combination's debt position. Lisa's bonds had a face value of $100,000 and paid cash interest of 8 percent per year. These bonds had been issued to the public to yield 14 percent. Interest is paid each December 31. On January 2, 2017, these bonds had a total $82,522 carrying amount. Mona paid $53,465, indicating an effective interest rate of 6 percent.On January 3, 2017, Mona sold Lisa fixed assets that had originally cost $104,000 but had accumulated depreciation of $80,000 when transferred. The transfer was made at a price

	Mona, Inc.				Lisa Company
Sales and other revenues	$	(508,000	)		$	(208,000	)
Expenses		224,000				124,000
Dividend incomeLisa common stock		(11,200	)			0
Dividend incomeLisa preferred stock		(7,200	)			0
Net income	$	(302,400	)		$	(84,000	)
Retained earnings, 1/1/18	$	(704,000	)		$	(508,000	)
Net income (above)		(302,400	)			(84,000	)
Dividends declaredcommon stock		96,800				14,000
Dividends declaredpreferred stock		0				12,000
Retained earnings, 12/31/18	$	(909,600	)		$	(566,000	)
Current assets	$	134,419			$	504,000
Investment in Lisacommon stock		580,000				0
Investment in Lisapreferred stock		69,000				0
Investment in Lisabonds		51,833				0
Fixed assets		1,104,000				804,000
Accumulated depreciation		(304,000	)			(204,000	)
Total assets	$	1,635,252			$	1,104,000
Accounts payable	$	(421,652	)		$	(139,874	)
Bonds payable		0				(100,000	)
Discount on bonds payable		0				9,874
Common stock		(304,000	)			(204,000	)
Preferred stock		0				(104,000	)
Retained earnings, 12/31/18		(909,600	)			(566,000	)
Total liabilities and equities	$	(1,635,252	)		$	(1,104,000	)

1. Assume that consolidated financial statements are being prepared for the year ending December 31, 2018. Calculate the consolidated balance for each of the following accounts:

• Franchises
• Fixed Assets
• Accumulated Depreciation
• Expenses