The following balance sheets were prepared for Pam Corporation and Slest Company on January 1, 20X2, just before they entered into a business combination:

ItemPam CorporationSlest CompanyBook ValueFair ValueBook ValueFair ValueAssets Cash and Receivables$ 150,000$ 150,000$ 90,000$ 90,000Inventory300,000380,00070,000160,000Buildings and Equipment600,000430,000250,000240,000Less: Accumulated Depreciation(250,000) (80,000) Total Assets$ 800,000$ 960,000$ 330,000$ 490,000Liabilities and Equities Accounts Payable$ 75,000$ 75,000$ 50,000$ 50,000Notes Payable200,000215,00030,00035,000Common Stock: $8 par value180,000 $6 par value 90,000 Additional Paid-In Capital140,000 55,000 Retained Earnings205,000 105,000 Total Liabilities and Equities$ 800,000 $ 330,000

Pam acquired all of Slest Companys assets and liabilities on January 1, 20X2, in exchange for its common shares. Pam issued 8,000 shares of stock to complete the business combination.

Required:

Prepare a balance sheet of the combined company immediately following the acquisition, assuming Pams shares were trading at $60 each.

Note: Amounts to be deducted should be indicated with minus sign.