On January 1, 2021. Casey Corporation exchanged $3.266.000 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) 5 3,256,800 Carrying amount acquired 2,600,000 Excess fair value to buildings (undervalued) $ 348,600 to licensing agreements (overvalued) (175,00) 273,000 to goodud 11 (indefinite life) 493,000 666,000 immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses) Accounts Casey Kennedy Cash $ 517,000 5 180,000 Accounts receivable 1,415,000 348,000 Inventory 1,495,000 181,000 Investeent in Kennedy 3,266,000 a Buildings (net) 6,022,500 2,190,000 Licensing agreements 3,100,000 Goodwill 234,500 Total assets 5 12,950,000 5 5,999,000 Accounts payable $ (340,000) (449,000) Long-term debt (3,610,000) (2,950,000) Common stock (3,880,000) (1,200,000) Additional paid in capital (500,000) Retained earnings 16,890,890) (1,100,000) Total liabilities and equities (12,950,000) $ (5,999,000) a 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 es positive values.) Consolidated CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY Worksheet for a Consolidated Balance Sheet January 1, 2021 Adjust & Elim. Casey Kennedy Debit Credit Cash $ 517,000 $ 180,000 Accounts receivable 1,415,000 348,000 Inventory 1,495,000 181,000 Investment in Kennedy 3,268,000 Buildings (net) 6,022,500 2,190,000 Licensing agreements 3,100,000 Goodwill 234,500 Total assets $ 12.950,000 $5,999,000 Accounts payable $ (340,000) (449,000) Long-term debt 13.610.000 (2.950,000) Common stock 13.000.000 (1,000,000) Additional paid-in capital (500,000) Retained earnings (6.000.000) (1,100 000) Total liabilities and equities $(12.950.000) 5 5.999,000)