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On June 30, 2017, Wisconsin, Inc., issued $280,050 in debt and 17,200 new shares of its $10 par value stock to Badger Company owners in
On June 30, 2017, Wisconsin, Inc., issued $280,050 in debt and 17,200 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 (460,000) Revenues Expenses $(991,000) 722,000 297,000 (269,000) $ (822,000) (269,000) Net income $ (163,000) (205, 000) Retained earnings, 1/1 Net income Dividends declared (163,000) 100,250 (368,000) 82,000 231,000 393,000 601,000 $1,307,000 $ (990,750) Retained earnings, 6/30 Cash Receivables and inventory Patented technology (net) Equipment (net) 51,750 405,000 952,000 731,000 $2,139,750 $ (519,000) Total assets Liabilities Common stock Additional paid-in capital Retained earnings S (469,000) (360,000) (270,000) (200,000) (270,000) (990,750)(368,000) Total liabilities and equities (2,139,750) (1,307,000) Wisconsin also paid $39,900 to a broker for arranging the transaction. In addition, Wisconsin paid $44,800 in stock issuance costs. Badger's equipment was actually worth $703,750, but its patented technology was valued at only $367,300. What are the consolidated balances for the following accounts? (Input all amounts as positive values)
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