The financial statements for Campbell Incorporated

and Newton Company for the year ended December

$31,2024,$ prior to the business combination whereby

Campbell acquired Newton, are as follows $($in

thousands$)$:

On December $31,2024,$ Campbell obtained a loan for

$$650$ and used the proceeds, along with the transfer of

$35$ shares of its $$10$ par value common stock, in

exchange for all of Newton's common stock. At the

time of the transaction, Campbell's common stock had

a fair value of $$40$ per share.

In connection with the business combination, Campbell

paid $$25$ to a broker for arranging the transaction and

$$30$ in stock issuance costs. At the time of the

transaction, Newton's equipment was actually worth

$$1,450$ but its buildings were only valued at $$590.$

Compute the consolidated receivables and inventory

for $2024.$

Multiple Choice

$.$ $$470$

$.$$$1,200$

$.$$$1,440$

$.$$$1,560$

$.$$$2,030$The financial statements for Campbell Incorporated and Newton Company for the year ended December $31,2024,$ prior to the business combination whereby Campbell acquired Newton, are as follows $($in thousands$)$:

Campbell

Newton

Revenues

$ $2,600$

$ $700$

Expenses

$1,880$

$400$

Net income

$ $720$

$ $300$

Retained earnings, $1/1$

$ $2,400$

$ $500$

Net income

$720$

$300$

Dividends

$(270)$

$0$

Retained earning, $12/31$

$ $2,850$

$ $800$

Cash

$ $240$

$ $230$

Receivables and inventory

$1,200$

$360$

Buildings $($net$)$

$2,700$

$650$

Equipment $($net$)$

$2,100$

$1,300$

Total assets

$ $6,240$

$ $2,540$

Liabilities

$ $1,500$

$ $720$

Common stock

$1,080$

$400$

Additional paid$-$in capital

$810$

$620$

Retained earnings

$2,850$

$800$

Total liabilities & stockholders' equity

$ $6,240$

$ $2,540$

On December $31,2024,$ Campbell obtained a loan for $$650$ and used the proceeds, along with the transfer of $35$ shares of its $$10$ par value common stock, in exchange for all of Newton$$s common stock. At the time of the transaction, Campbell$$s common stock had a fair value of $$40$ per share.

In connection with the business combination, Campbell paid $$25$ to a broker for arranging the transaction and $$30$ in stock issuance costs. At the time of the transaction, Newton$$s equipment was actually worth $$1,450$ but its buildings were only valued at $$590.$

Compute the consolidated receivables and inventory for $2024.$

Multiple Choice

$$ $$470$

$$ $$1,200$

$$ $$1,440$

$$ $$1,560$

$$ $$2,030$

IS THE CORRECT ANSWER $$1,560$

$1,200+360=1,560$