On January 1, 2018 Casey Corporation exchanged $3,244,000 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)					$	3,244,000
Carrying amount acquired						2,600,000
Excess fair value					$	644,000
to buildings (undervalued)	$	366,000
to licensing agreements (overvalued)		(196,000	)			170,000
to goodwill (indefinite life)					$	474,000

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

Accounts	Casey				Kennedy
Cash	$	524,000			$	192,000
Accounts receivable		1,455,000				334,000
Inventory		1,500,000				286,000
Investment in Kennedy		3,244,000				0
Buildings (net)		5,572,500				1,870,000
Licensing agreements		0				3,000,000
Goodwill		531,500				0
Total assets	$	12,827,000			$	5,682,000
Accounts payable	$	(387,000	)		$	(382,000	)
Long-term debt		(3,440,000	)			(2,700,000	)
Common stock		(3,000,000	)			(1,000,000	)
Additional paid-in capital		0				(500,000	)
Retained earnings		(6,000,000	)			(1,100,000	)
Total liabilities and equities	$	(12,827,000	)		$	(5,682,000	)

Prepare an acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation.