. On January 2, 2013, Illinois Corporation issued 200,000 new shares of its $5 par value common stock valued at $19 a share for all of North Dakota Company's outstanding common shares. The fair value and book value of North Dakota's identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2013 is as follows:

	Illionois	North Dakota
Cash	$ 150,000	$ 240,000
Inventories	320,000	800,000
Other current assets	500,000	1,000,000
Land	350,000	500,000
Property, plant & equipment	4,000,000	3,000,000
Total Assets	$5,320,000	$5,540,000
Accounts payable	$1,000,000	$ 600,000
Notes payable	1,300,000	1,320,000
Common stock, $5 par	2,000,000	1,000,000
Additional paid-in capital	1,000,000	200,000
Retained earnings	20,000	2,420,000
Total Liabilities & Equities	$5,320,000	$5,540,000

Prepare a consolidated balance sheet for Illinois Corporation immediately after the business combination.