On June 31, 2019, Majestic Co. acquired all of the common stock of Golden Company, which acquisition: Golden Company Assets Plant assets (net) Inventory Receivables Fash Statement of Financial Position Equity and Liabilities $1.250.000 Share capital-ordinary $1,045,000 370,000 Retained earnings 1,000,000 750,000 Accounts payable 675,000 350,000 otal assets $2,720,000 Total equity and liabilities $2,720,000