The balance sheets of E Ltd. and J Ltd. on December 30, Year 6, were as follows:

	E Ltd.			J Ltd.
Cash and receivables	$	96,500		$	20,500
Inventory		58,000			9,500
Plant assets (net)		230,000			71,500
Intangible assets		24,500			7,000
	$	409,000		$	108,500
Current liabilities	$	64,000		$	30,100
Long-term debt		98,500			45,200
Common shares		155,000			46,600
Retained earnings (deficit)		91,500			(13,400	)
	$	409,000		$	108,500

On December 31, Year 6, E Ltd. issued 497 shares, with a fair value of $30 each, for 70% of the outstanding shares of J Ltd. Costs involved in the acquisition, paid in cash, were as follows:

Costs of arranging the acquisition	$	2,600
Costs of issuing shares		1,800
	$	4,400

The carrying amounts of J Ltd.s net assets were equal to fair values on this date except for the following:

	Fair value
Plant assets	$	65,500
Long-term debt		42,000

E Ltd. was identified as the acquirer in the combination.

Required:

(a) Prepare the consolidated balance sheet of E Ltd. on December 31, Year 6, under the identifiable net assets method.

(b) Prepare the consolidated balance sheet of E Ltd. on December 31, Year 6, under the fair value enterprise method.