Reporting of Stockholders' Equity in Consolidation Baylor Company purchased 75% of the common stock of Reed Company for $600,000 in cash when the stockholders' equity of Reed Company consisted of $500,000 in common stock and $300,000 in retained earnings. On the acquisition date, the stockholders' equity of Baylor Company consisted of $900,000 in common stock and $440,000 in retained earnings. Prepare the stockholders' equity section in the consolidated balance sheet as of the acquisition date. Stockholders' Equity Common stock Retained earnings 0 X Baylor Company shareholders' equity $ Noncontrolling interests 0 X Total equity