On January 1, 2018 Casey Corporation exchanged $3,218,000 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:

Fair value of Kennedy (consideration transferred)$3,218,000Carrying amount acquired2,600,000Excess fair value$618,000to buildings (undervalued)$360,000to licensing agreements (overvalued)(162,000)198,000to goodwill (indefinite life)$420,000

Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records.

AccountsCaseyKennedyCash$522,000$179,250Accounts receivable1,430,000309,000Inventory1,645,000170,750Investment in Kennedy3,218,0000Buildings (net)5,977,5002,180,000Licensing agreements03,050,000Goodwill128,5000Total assets$12,921,000$5,889,000Accounts payable$(381,000)$(389,000)Long-term debt(3,540,000)(2,900,000)Common stock(3,000,000)(1,000,000)Additional paid-in capital0(500,000)Retained earnings(6,000,000)(1,100,000)Total liabilities and equities$(12,921,000)$(5,889,000)

Prepare acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation.(Negative amounts should be indicated by a minus sign.)