Problem 2-26 (LO 2-4, 2-5, 2-6b, 2-7)

On June 30, 2017, Wisconsin, Inc., issued $288,000 in debt and 17,300 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2017, were as follows:

	Wisconsin				Badger
Revenues	$	(1,013,000	)		$	(353,000	)
Expenses		752,000				249,000
Net income	$	(261,000	)		$	(104,000	)
Retained earnings, 1/1	$	(803,000	)		$	(239,000	)
Net income		(261,000	)			(104,000	)
Dividends declared		92,500				0
Retained earnings, 6/30	$	(971,500	)		$	(343,000	)
Cash	$	51,500			$	60,000
Receivables and inventory		415,000				188,000
Patented technology (net)		925,000				337,000
Equipment (net)		765,000				640,000
Total assets	$	2,156,500			$	1,225,000
Liabilities	$	(555,000	)		$	(412,000	)
Common stock		(360,000	)			(200,000	)
Additional paid-in capital		(270,000	)			(270,000	)
Retained earnings		(971,500	)			(343,000	)
Total liabilities and equities	$	(2,156,500	)		$	(1,225,000	)

Wisconsin also paid $30,300 to a broker for arranging the transaction. In addition, Wisconsin paid $41,200 in stock issuance costs. Badgers equipment was actually worth $779,500, but its patented technology was valued at only $308,300.

What are the consolidated balances for the following accounts? (Input all amounts as positive values)

.	Net income.	$230,700 selected answer correct
b.	Retained earnings, 1/1/17.	$803,000 selected answer correct
c.	Patented technology.	$1,233,300 selected answer correc
d.	Goodwill.
e.	Liabilities.	$1,255,000selected answer correct
f.	Common stock.	$533,000selected answer correct
g.	Additional paid-in capital.