On January 1, 2018 Casey Corporation exchanged $3,170,000 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: is a Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value 3,170,000 2, 600,000 $ 570,000 IT rm to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) s324,000 (198,000) 126,000 $ 444,000 ang 00- Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records