Prepare a consolidated balance sheet at the date of acquisition.

Exercise 3-3 On January 2, 2014, Prunce Company acquired 90% of the outstanding common stock of Sun Company for $195,030 cash. Just before the acquisition, the balance sheets of the two companies were as follows: Cash Accounts receivable (net) Inventory Plant and equipment (net) Land Prunce $274,030 156,030 106,590 373,640 59,480 $969,770 Sun $ 69,110 22,840 57,530 92,380 32,530 $274,390 Total asset Accounts payable Mortgage payable Common stock, $2 par value Other contributed capital Retained earnings Total equities $103,000 67,170 399,600 203,630 196,370 $969,770 $ 43,670 42,460 70,730 21,970 95,560 $274,390 The fair values of Sun Company's assets and liabilities are equal to their book values with the exception of land. Prepare a consolidated balance sheet at the date of acquisition. (Round answers to Od PRUNCE COMPANY AND SUBSIDIARY Consolidated Balance Sheet January 2, 2014 Assets cash 148110 TAccounts Receivable 178870 Inventory 114120 TPlant and Equipment 466020 Tland 28440 Total Assets 935560 Liabilities and Stockholders' Equity Liabilities Accounts Payable 146670 Mortgage Payable 109630 T Total Liabilities 256300 TStockholders' Equity v Common Stock 21670 TOther Contributed Capital 225600 TCommon Stock 21670 Other Contributed Capital 225600 Retained Earnings 291930 TTotal Stockholders' Equity Total Liabilities and Stockholders' Equity v