The financial balances for the Atwood Company and the Franz Company as of December 31, 2013, are presented below. Also included are the fair values for Franz Company's net assets. Franz Co. Fair Value Franz Co. (all numbers are in thousands) Book Value Atwood Book Value S 870 660 1.230 1,800 1,800 660 ( 570) 270) (2.700) (1,980) S 240 600 420 260 540 380 240) 60) (1,020) S 240 600 580 250 650 400 240) 60) (1,120) Cash Receivables Land Buildings (net) Equipment (net) Accounts payable Accrued expenses Long-term liabilities Common stock ($20 par) Common stock ($5 par) Additional paid-in capital Retained earnings 210) (1,170) (2,880) 2,760 420) 180) 480 660) 620 Note: Parenthesis indicate a credit balance Assume an acquisition business combination took place at December 31, 2013. Atwood Issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid. Compute consolidated equipment (net) at the date of the acquisition. $1,040 O $1.050 O $400. o $1,060 $660