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On January 1, 20X3, Parade Corporation reported total assets of $463,000, liabilites of $269,000, and stockholders equity of $194,000 At that date, Summer Corporation reported
On January 1, 20X3, Parade Corporation reported total assets of $463,000, liabilites of $269,000, and stockholders equity of $194,000 At that date, Summer Corporation reported total assets of $198,000, liabilities of $128,000, and stockholders' equity of $70,000. Following lengthy negotiations, Parade paid Sumrner's existing shareholders $56,000 in cash for 80 percent of the voting common shates of Summer. Required: Immediately after Parade purchased the Summer shares. o. What amount of total assets did Parade report in its individual balance sheet? b. What amount of total assets was reported in the consolidated balance sheer? c. What amount of total liabilites was reported in the consolidated balance sheet? d. What amount of stockholders'equity was reported in the consolidated balance sheet
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