Siego Corporation, a U.S. company, purchases all of the outstanding stock of Lulu Company, which operates outside the U.S. on January 1, 2020. Lulu' net assets have fair values that equal their book values with the exception of land that has a fair value of 200,000 Euros and building with a fair value of 280,000 Euros. Siego paid $600,000 for this acquisition. The balance sheets for Siego and Lulu are shown below just before the business combination. The exchange rate at the date of acquisition was $.90 per euro. Siego ($) Lulu(Euro) Current Assets 1.500.000 500.000 Investment in Sub 600,000 Land Buildings -net 250,000 Equipment - net 2,000,000 Total Assets 5.400.000 1.140,000 190,000 600.0001 700,000 200.000 Current Liabilities 800,000 220,000 Notes Payable 1.300,000 300,000 Capital Stock 2.400,000 270,0001 Retained Earnings 900.000 350.000 Total Liabilities 5.400.000 1.140,000 Required: Prepare a consolidated balance sheet for Siego and subsidiary at January 1, 2020 immediately following the business combination