Problem A

Able, Inc. issued 50,000 new shares of common stock (valued at $4 per share) to
purchase all of the outstanding stock for Washington corporation in a stock acquisition.
Prior to the stock acquisition, the equity section of each company was:
			Able	Washington
Common Stock ($1 par value)			$200,000	$50,000
Additional paid-in capital			100,000	20,000
Retained earnings			400,000	100,000
Total Equity			$700,000	$170,000
Calculate the amounts of Additional Paid-in Capital and Retained Earnings that
should be reported on a consolidated basis immediately after the stock acquisition?