On January 1, 2021, Casey Corporation exchanged $3,300,000 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)					$	3,300,000
Carrying amount acquired						2,600,000
Excess fair value					$	700,000
to buildings (undervalued)	$	382,000
to licensing agreements (overvalued)		(108,000)				274,000
to goodwill (indefinite life)					$	426,000

Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses).

HELP ME FIX NUMBERS IN RED.Thanks!

Accounts Cash Accounts receivable Inventory Investment in Kennedy Buildings (net) Licensing agreements Goodwill Total assets Accounts payable Long-term debt Common stock Additional paid-in capital Retained earnings Total liabilities and equities Casey Kennedy $ 457,000 $ 172,500 1,655,000 347,000 1,310,000 263,500 3,300,000 6,315,000 2,090,000 3,070,000 347,000 $ 13,384,000 $ 5,943,000 $ (394,000) $ (393,000) (3,990,000) (2,950,000) (3,000,000) (1,000,000) 0 (500,000) (6,000,000) (1,100,000) $ (13,384,000) $ (5,943, 000) Consolidated S 629,500 2,002,000 1,573,500 Answer is not complete. CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY Worksheet for a Consolidated Balance Sheet January 1, 2021 Adjust. & Elim. Casey Kennedy Debit Credit Cash S 457,000 S 172,500 Accounts receivable 1,655,000 347,000 Inventory 1,310,000 263,500 Investment in Kennedy 3,300,000 2,600,000 Buildings (net) 6,315,000 $ 2,090,000 700,000 Licensing agreements 3,070,000 108,000 Goodwill 347,000 426,000 Total assets $ 13,384,000 $ 5,943,000 Accounts payable $ (394,000) (393,000) Long-term debt (3,990,000) (2,950,000) Common stock (3,000,000) (1,000,000) 1,000,000 Additional paid-in capital (500,000) 500,000 Retained earnings (6,000,000) (1,100,000) 1,100,000 S S Total liabilities and equities $ 3,026,000 $ 3,408,000 (13,384.000) (5,943,000) 8,787,000 2,962,000 773,000 $ 16,727,000 (787,000) (6,940,000) (3,000,000) 0 (6,000,000) S (16,727,000)