Paragraph Styles 9. On January 2, 2020, Space Co. issued 150,000 new shares of its $1 par value common stock valued at $16 a share for all of Evolution, Inc.'s outstanding common shares. The fair value and book value of Evolution' identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2020 is as follows: Space Evolution Cash $400,000 $150,000 Inventories 400,000 440,000 Other current assets 550,000 350,000 Land 350,000 540,000 Property, plant & equipment 4,200,000 3,000,000 Total Assets $5,900,000 $4,480,000 Accounts payable $750,000 $350,000 Notes payable 850,000 1,150,000 Common stock, $1 par 1,500,000 1,000,000 Additional paid-in capital 750,000 350,000 Retained earnings 2,050,000 1,630,000 Total Liabilities & Equities $5,900,000 $4,480,000 Required: Prepare a consolidated balance sheet for Space Co. immediately after the business combination