Problem 2-24 (LO 2-4, 2-5, 2-6a, 2-6b, 2-6c) Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. Company Sol Company Book Values Book Values Fair Values 12/31 12/31 /31 143,750 Cash Receivables Inventory Land Building and equipment (net) Franchise agreements Accounts payable Accrued expenses Longterm liabilities Common stock-$20 par value Common stock-$5 par value Additional paid-in capital Retained earnings, 1/1 Revenues Expenses S 61,480 398,880 301,780 182,700 431,680 251,488 (153,000) (36,880) (1,057,588) (682,50)(682,500) S 61,480 288,758 625,080 655,880 730,080 277,888 398,088 250,080 283,080 364,080 219,000 (153,000) (36,000) (390,000) (94,080) (660,888) (210,000) (90,000) (294,000) (385,980) 356,000 (70,088) (485,080) (968,000) 925,080 Note: Parentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $242.500 in cash and issuing 15,200 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $24.400 as well as $8,600 in stock issuance costs Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.) Inventory Land Buildings and equipment Franchise agreements Goodwill Revenues Additional paid-in capital Expenses Retained earnings, 1/1 Retained earnings, 12/31