The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: BALANCE SHEETS December 31, 2020 Patrick Sean Cash $ 74,000 $ 56,000 Accounts receivable (net) 148,000 32,000 Inventories 96,000 46,000 Plant and equipment (net) 620,000 264,000 Investment in Sean 480,000 - Total assets $ 1,418,000 $ 398,000 Accounts payable 156,000 94,000 Long-term debt 116,000 32,000 Common stock ($10 par) 312,000 46,000 Additional paid-in capital 12,000 Retained earnings 834,000 214,000 Total liabilities and shareholders' equity $ 1,418,000 $ 398,000 Additional Information: On December 31, 2020, Patrick acquired 100 percent of Seans voting stock in exchange for $480,000. At the acquisition date, the fair values of Seans assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Seans inventory were $24,000 more than their carrying amounts. In the December 31, 2020, consolidated balance sheet of Patrick and its subsidiary, what amount of total assets should be reported?