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

	E Ltd.			J Ltd.
Cash and receivables	$	96,000		$	19,500
Inventory		57,000			9,000
Plant assets (net)		228,000			70,500
Intangible assets		24,000			6,000
	$	405,000		$	105,000
Current liabilities	$	63,000		$	30,000
Long-term debt		97,500			45,000
Common shares		153,000			46,500
Retained earnings (deficit)		91,500			(16,500	)
	$	405,000		$	105,000

On December 31, Year 6, E Ltd. issued 497 shares, with a fair value of $40 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	$	2,500
Costs of issuing shares		1,600
	$	4,100

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	$	65,000
Long-term debt		40,000

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.