The shareholders of Prong Company and Horn Company agreed to a statutory amalgamation under which a share exchange took place. On September 1, Year 5, Prong Company issued 66,000 ordinary shares for all of the ordinary shares of Horn Company, after which Horn Company was dissolved. The ordinary shares of Prong Company traded at $8 per share on this date. After the amalgamation, Prong Company changed its name to Pronghorn Corporation. The statements of financial position of the two companies on August 31, Year 5, were as follows: Prong Company Horn Company Plant and equipment $ 653,000 $ 498,000 Accumulated depreciation (214,000) (198,000) Other assets 50,000 29,000 Current assets 144,000 179,000 $ 633,000 $ 508,000 Ordinary shares (Note 1) $ 84,000 $ 114,000 Retained earnings 255,000 186,000 Long-term debt 189,000 169,000 Current liabilities 105,000 39,000 $ 633,000 $ 508,000 Note 1 Ordinary shares outstanding 84,000 34,000 The carrying amounts of the net assets of both companies were equal to fair values except for plant and equipment. The fair values of plant and equipment were as follows: Prong Company $590,000 Horn Company 370,000 Prongs other assets include patent registration costs with a carrying amount of $34,000. An independent appraiser placed a value of $109,000 on this patent. Required: Prepare the statement of financial position of Pronghorn Corporation immediately after the statutory amalgamation.