The July 31, Year 3, balance sheets of two companies that are parties to a business combination are as follows: Ravinder Corp. Robin Inc. Carrying Amount Carrying Amount Fair Value Current assets $ 1,600,000 $ 420,000 $ 468,000 Plant and equipment 1,330,000 1,340,000 972,000 Accumulated depreciation (250,000) (500,000) Patents(net) 72,000 $ 2,680,000 $ 1,260,000 Current liabilities $ 1,360,000 $ 252,000 252,000 Long-term debt 480,000 360,000 384,000 Common shares 720,000 168,000 Retained earnings 120,000 480,000 $ 2,680,000 $ 1,260,000 In addition to the assets identified