On January 1, 2021, Casey Corporation exchanged $3,262,000 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 falr-value allocation schedule. Fair value of Kennedy (consideration transferred) $ 3,262,00 Carrying mount acquired Excess fair value 662,000 to buildings (undervalued) 5384.000 to licensing agreements (overvalued) 299,) 185.000 to gooduli (Indefinite 11e) $ 477,000 2,600,000 5 Immediately after closing the transaction. Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses) accounts Cash Accounts receivable Tnventory Investment in Kennedy Duildings (net) Licensing agreements GOOGLE Total assets Accounts payable Long terdit Common stock Additional palo in capital Related earnings Total ties and with Casey Kercedy 427,000 5 139,500 1,515.000 105.00 1.695.000 23.500 9,262.000 5,820.00 2.250.00 2.720.000 361 5 13.036.000 55.675.00 5 (336,000 3 ca. 700.000 2.000 (2.000.000 (1.000.000 (00.000 (6.000.000 $ 3.036.600) Prepare an acquisition date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. (For accounts where multiple consolidation entries are required.combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet Input all amounts as positive values Conso CASEY CORPORATION AND CONSOLIDATED SUD DIARY KENNEDY Worksheet for a consolidated Balance Sheet January 1, 2021 Adutti Casey Kennedy Crede 5 423 000 $ 130.500 Accounts receivable 1515.000 305.000 1.038.000 230 300 mantiska 3.302.000 Blogs 5520.000 2200000 League 2.720.000 G 301.000 3:13.050.000 33.000 Route 238.000 438000 Long 2.100.000 200 000 COOK 000.000 100000 Ata 300 000 2,000,000 1150.000 36000155111 On January 1, 2021, Casey Corporation exchanged $3,262,000 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 falr-value allocation schedule. Fair value of Kennedy (consideration transferred) $ 3,262,00 Carrying mount acquired Excess fair value 662,000 to buildings (undervalued) 5384.000 to licensing agreements (overvalued) 299,) 185.000 to gooduli (Indefinite 11e) $ 477,000 2,600,000 5 Immediately after closing the transaction. Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses) accounts Cash Accounts receivable Tnventory Investment in Kennedy Duildings (net) Licensing agreements GOOGLE Total assets Accounts payable Long terdit Common stock Additional palo in capital Related earnings Total ties and with Casey Kercedy 427,000 5 139,500 1,515.000 105.00 1.695.000 23.500 9,262.000 5,820.00 2.250.00 2.720.000 361 5 13.036.000 55.675.00 5 (336,000 3 ca. 700.000 2.000 (2.000.000 (1.000.000 (00.000 (6.000.000 $ 3.036.600) Prepare an acquisition date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. (For accounts where multiple consolidation entries are required.combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet Input all amounts as positive values Conso CASEY CORPORATION AND CONSOLIDATED SUD DIARY KENNEDY Worksheet for a consolidated Balance Sheet January 1, 2021 Adutti Casey Kennedy Crede 5 423 000 $ 130.500 Accounts receivable 1515.000 305.000 1.038.000 230 300 mantiska 3.302.000 Blogs 5520.000 2200000 League 2.720.000 G 301.000 3:13.050.000 33.000 Route 238.000 438000 Long 2.100.000 200 000 COOK 000.000 100000 Ata 300 000 2,000,000 1150.000 36000155111