On January 1, 2018 Casey Corporation exchanged $3,164,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: $3,164,000 2,600,000 $ 564,000 Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) $ 323,000 (160,000) 163,000 $ 401,000 Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records. Accounts Casey Kennedy Cash $ 472,000 $ 128, 250 Accounts receivable 1,635,000 375,000 Inventory 1,305,000 134,750 Investment in Kennedy 3,164,000 0 Buildings (net) 6, 105,000 1,850,000 Licensing agreements 0 3,170,000 Goodwill 460,000 0 Total assets $ 13, 141,000 $ 5,658,000 Accounts payable $ (321,000) $ (388,000) Long-term debt (3,820,000) (2,670,000) Common stock (3,000,000) (1,000,000) Additional paid-in capital (500,000) Retained earnings (6,000,000) (1,100,000). Total liabilities and $ (13,141,000) $ (5,658,000) equities Prepare an acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. (Negative amounts should be indicated by a minus sign.) CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY Consolidated Balance Sheet January 1, 2018 Liabilities and Stockholders' Assets Equity Total assets $ Total liabilities and 0 equities $ 0