On January 1, 20X3, Parade Corporation reported total assets of $468,000, liabilities of $270,000, and stockholders equity of $198,000. At that date, Summer Corporation reported total assets of $190,000, liabilities of $127,000, and stockholders equity of $63,000. Following lengthy negotiations, Parade paid Summers existing shareholders $53,550 in cash for 85 percent of the voting common shares of Summer.

a. What amount of total assets did Parade report in its individual balance sheet? Amount of total assets $ 468,000 b. What amount of total assets was reported in the consolidated balance sheet? Amount of total assets $ 604,450 c. What amount of total liabilities was reported in the consolidated balance sheet? Amount of total liabilities $ 397,000 d. What amount of stockholders' equity was reported in the consolidated balance sheet? Amount of stockholders' equity $ 72,450 x