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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

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 $ 72,000 $ 64,000
Accounts receivable (net) 134,000 38,000
Inventories 98,000 70,000
Plant and equipment (net) 632,000 274,000
Investment in Sean 464,000 -
Total assets $ 1,400,000 $ 446,000
Accounts payable 148,000 80,000
Long-term debt 100,000 32,000
Common stock ($10 par) 338,000 76,000
Additional paid-in capital 14,000
Retained earnings 814,000 244,000
Total liabilities and shareholders' equity $ 1,400,000 $ 446,000

Additional Information:

  • On December 31, 2020, Patrick acquired 100 percent of Seans voting stock in exchange for $464,000.
  • 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 $22,000 more than their carrying amount.

In the December 31, 2020, consolidated balance sheet of Patrick and its subsidiary, what amount of total stockholders equity should be reported?

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