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On June 30, 2017, Wisconsin, Inc., issued $279,150 in debt and 19,200 new shares of its $10 par value stock to Badger Company owners in

On June 30, 2017, Wisconsin, Inc., issued $279,150 in debt and 19,200 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:

Wisconsin Badger
Revenues $ (991,000 ) $ (347,000 )
Expenses 729,000 245,000
Net income $ (262,000 ) $ (102,000 )
Retained earnings, 1/1 $ (828,000 ) $ (290,000 )
Net income (262,000 ) (102,000 )
Dividends declared 97,000 0
Retained earnings, 6/30 $ (993,000 ) $ (392,000 )
Cash $ 69,000 $ 147,000
Receivables and inventory 454,000 236,000
Patented technology (net) 951,000 305,000
Equipment (net) 705,000 634,000
Total assets $ 2,179,000 $ 1,322,000
Liabilities $ (556,000 ) $ (460,000 )
Common stock (360,000 ) (200,000 )
Additional paid-in capital (270,000 ) (270,000 )
Retained earnings (993,000 ) (392,000 )
Total liabilities and equities $ (2,179,000 ) $ (1,322,000 )

Wisconsin also paid $36,800 to a broker for arranging the transaction. In addition, Wisconsin paid $46,200 in stock issuance costs. Badgers equipment was actually worth $784,750, but its patented technology was valued at only $277,200.

What are the consolidated balances for the following accounts?image text in transcribed

Answer is complete but not entirely correct. Accounts Amounts $ 225,200 $ 828,000 Net income Retained earnings, Patented technology. 1,228,200 Goodwill. Liabilities Common stock. Additional paid-in capital $ 113,000 $ 1,295,150 $ 552,000 $ 799,800 9

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