QUESTION 11 on January 3, 20x2, Redding Company acquired 80 percent of Frazer Corporation's common stock for $344,000 at 80% of book value in cash. At the acquisition date, the book values and fair values of Frazer's net assets was equal. The stockholders' equity accounts of the two companies at the acquisition date are: Redding Frazer Common Stock ($1 Par $500,000 $200,000 Additional PIC 300,000 80,000 Retained earnings 350,000 150,000 Total Stockholders Equity 1150.000 430.000 What amount of common stock will be reported in the consolidated balance sheet on Jan 2, 20X9? Sonnnnn What amount of common stock will be reported in the consolidated balance sheet on Jan 2, 20X9? $700,000 $500,000 $200,000 $800,000