Required information PayNet Inc. (PayNet) and Shale Ltd. (Shale) had the following balance sheets on July 31, 2022: Assuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, What is the amount of the total assets on PayNet's consolidated balanc sheet at the date of acquisition if the proportionate consolidation method was used? Multiple Choice $780,000 $696,000 $651,000 $599,200