Question 6 Not yet answered Marked out of 1.00 Flag question X Co acquired 100 % of Y Co outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both reported the following: X CO Y CO 2,000,000 Assets 750,000 400,000 Liabilities 400,000 Common Stock 1,000,000 310,000 Retained Earnings 600,000 40,000 Liabilities & Stockholders' Equity 2,000,000 750,000 At the date of purchase, the fair value of Y assets was $50,000 more than the Book value amounts. In the consolidated balance sheet prepared immediately after the purchase, the consolidated stockholders' equity should amount to X CO Y 2,000,000 Assets 750,000 400,000 Liabilities 400,000 1,000,000 Common Stock 310,000 Retained Earnings 600,000 40,000 Liabilities & Stockholders' Equity 2,000,000 750,000 At the date of purchase, the fair value of Y assets was $50,000 more than the Book value amounts. In the consolidated balance sheet prepared immediately after the purchase, the consolidated stockholders' equity should amount to Select one: a. 1,250,000 b. 1,650,000 c. 1,600,000 d. 1,680,000