Porter Company acquired all of Sutter, Inc.'s outstanding shares on January 1. Porter paid $300,000 and issued $200,000 in long-term liabilities and paid $40,000 in legal fees. Porter also agreed to pay $80,000 to the former owners of Sutter contingent on meeting certain revenue goals during the following year. Porter estimated the present value of its probability adjusted expected payment for the contingency or contingent obligation at $63,000 Precombination book values for Sutter, Inc. are as follows: $ Current assets Equipment Buildings Goodwill Total 85,000 90,000 175,000 33,000 383,000 $ Current liabilities Common stock Retained earnings Revenues Expenses Total $ (50,000) (180,000) (115,000) (138,000) 100,000 $_(383,000) Porter's appraisal of Sutter found two balance sheet accounts that differed from fair value. Equipment was undervalued by $15,000 and Buildings by $5,000. Porter noted that Sutter has unrecorded client contracts worth $60,000 and research and development activity in process with an appraised fair value of $90,000 a. What is the total consideration given by Porter? (Show your calculations.) b. What values for each of the acquired assets and liabilities will be used in the consolidation