On January 1, 2023, Palo Verde Corporation acquired 100 percent of the voting stock of Silverstone Corporation in exchange for $2,344,500 in cash and securities. On the acquisition date, Silverstone had the following balance sheet: At the acquisition date, the book values of Silverstone's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Silverstone has the following income and dividends in its own separately prepared financial reports to its parent. Dividends are declared and paid in the same period. The December 31,2024 , separate financial statements for each company follow. Parentheses indicate credit balances. On January 1, 2023, Palo Verde Corporation acquired 100 percent of the voting stock of Silverstone Corporation in exchange for $2,344,500 in cash and securities. On the acquisition date, Silverstone had the following balance sheet: At the acquisition date, the book values of Silverstone's assets and liabilities were generally equivalent to their fair values except for the following assets: During the next two years, Silverstone has the following income and dividends in its own separately prepared financial reports to its parent. Dividends are declared and paid in the same period. The December 31,2024 , separate financial statements for each company follow. Parentheses indicate credit balances