On January 1, 2018 Casey Corporation exchanged $3,298,000 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)					$	3,298,000
Carrying amount acquired						2,600,000
Excess fair value					$	698,000
to buildings (undervalued)	$	329,000
to licensing agreements (overvalued)		(106,000	)			223,000
to goodwill (indefinite life)					$	475,000

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

Accounts	Casey				Kennedy
Cash	$	447,000			$	179,250
Accounts receivable		1,335,000				344,000
Inventory		1,270,000				217,750
Investment in Kennedy		3,298,000				0
Buildings (net)		6,142,500				2,790,000
Licensing agreements		0				2,280,000
Goodwill		321,500				0
Total assets	$	12,814,000			$	5,811,000
Accounts payable	$	(304,000	)		$	(421,000	)
Long-term debt		(3,510,000	)			(2,790,000	)
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	$	(12,814,000	)		$	(5,811,000	)

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 KENNEDYConsolidated Balance SheetJanuary 1, 2018AssetsLiabilities and Stockholders' EquityTotal assets$0Total liabilities and equities$0