The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below:

	Percy				Saltz
Cash	$	200,800			$	4,200
Accounts receivable		50,400				14,400
Inventory		60,600				42,800
Plant		477,000				193,200
Accumulated amortization		(127,000	)			(90,400	)
Trademarks(net)						14,400
	$	661,800			$	178,600
Current liabilities	$	100,800			$	20,400
Long-term debt		161,200				40,800
Common shares		220,400				60,400
Retained earnings		179,400				57,000
	$	661,800			$	178,600

The fair values of the identifiable net assets of Saltz Ltd. on December 31, Year 10, were as follows:

Cash				$	4,200
Accounts receivable					14,400
Inventory					52,400
Plant					122,000
Trademarks					28,800
					221,800
Current liabilities	$	20,400
Long-term debt		38,400			58,800
Net assets				$	163,000

In addition to the assets identified above, Saltz owned a taxi licence in the City of Moose Jaw. This licence expires in nine years. These licences are selling in the open market at approximately $37,000.

On January 1, Year 11, Percy Corp paid $175,000 in cash to acquire 7,000 (70%) of the common shares of Saltz Ltd. Saltzs shares were trading for $20 per share just after the acquisition by Percy.

Required:

Prepare the consolidated balance sheet on January 1, Year 11.

The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below:

	Percy				Saltz
Cash	$	200,800			$	4,200
Accounts receivable		50,400				14,400
Inventory		60,600				42,800
Plant		477,000				193,200
Accumulated amortization		(127,000	)			(90,400	)
Trademarks(net)						14,400
	$	661,800			$	178,600
Current liabilities	$	100,800			$	20,400
Long-term debt		161,200				40,800
Common shares		220,400				60,400
Retained earnings		179,400				57,000
	$	661,800			$	178,600

The fair values of the identifiable net assets of Saltz Ltd. on December 31, Year 10, were as follows:

Cash				$	4,200
Accounts receivable					14,400
Inventory					52,400
Plant					122,000
Trademarks					28,800
					221,800
Current liabilities	$	20,400
Long-term debt		38,400			58,800
Net assets				$	163,000

In addition to the assets identified above, Saltz owned a taxi licence in the City of Moose Jaw. This licence expires in nine years. These licences are selling in the open market at approximately $37,000.

On January 1, Year 11, Percy Corp paid $175,000 in cash to acquire 7,000 (70%) of the common shares of Saltz Ltd. Saltzs shares were trading for $20 per share just after the acquisition by Percy.

Required:

Prepare the consolidated balance sheet on January 1, Year 11.