Question
On June 30, 2017, Wisconsin, Inc., issued $267,350 in debt and 18,400 new shares of its $10 par value stock to Badger Company owners in
On June 30, 2017, Wisconsin, Inc., issued $267,350 in debt and 18,400 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2017, were as follows:
WisconsinBadgerRevenues$(985,000)$(339,000)Expenses720,000201,000Net income$(265,000)$(138,000)Retained earnings, 1/1$(843,000)$(208,000)Net income(265,000)(138,000)Dividends declared106,2500Retained earnings, 6/30$(1,001,750)$(346,000)Cash$110,750$59,000Receivables and inventory433,000180,000Patented technology (net)929,000372,000Equipment (net)727,000619,000Total assets$2,199,750$1,230,000Liabilities$(568,000)$(414,000)Common stock(360,000)(200,000)Additional paid-in capital(270,000)(270,000)Retained earnings(1,001,750)(346,000)Total liabilities and equities$(2,199,750)$(1,230,000)
Wisconsin also paid $30,800 to a broker for arranging the transaction. In addition, Wisconsin paid $43,100 in stock issuance costs. Badger's equipment was actually worth $765,250, but its patented technology was valued at only $350,700.
What are the consolidated balances for the following accounts?(Input all amounts as positive values)
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