Question
On June 30, 2017, Wisconsin, Inc., issued $407,700 in debt and 13,500 new shares of its $10 par value stock to Badger Company owners in
On June 30, 2017, Wisconsin, Inc., issued $407,700 in debt and 13,500 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 $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2017, were as follows:
WisconsinBadgerRevenues$(958,000)$(345,000)Expenses668,000228,000Net income$(290,000)$(117,000)Retained earnings, 1/1$(886,000)$(222,000)Net income(290,000)(117,000)Dividends declared104,0000Retained earnings, 6/30$(1,072,000)$(339,000)Cash$118,000$120,000Receivables and inventory408,000151,000Patented technology (net)973,000273,000Equipment (net)730,000683,000Total assets$2,229,000$1,227,000Liabilities$(527,000)$(418,000)Common stock(360,000)(200,000)Additional paid-in capital(270,000)(270,000)Retained earnings(1,072,000)(339,000)Total liabilities and equities$(2,229,000)$(1,227,000)
Wisconsin also paid $31,900 to a broker for arranging the transaction. In addition, Wisconsin paid $43,600 in stock issuance costs. Badger's equipment was actually worth $788,000, but its patented technology was valued at only $251,100.
What are the consolidated balances for the following accounts?(Input all amounts as positive values)
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