Velway Corp. acquired Joker Inc. on January 1, 2009. The parent paid more than the fair value

of the subsidiary's net assets. On that date, Velway had equipment with a book value of $500,000

and a fair value of $640,000. Joker had equipment with a book value of $400,000 and a fair

value of $470,000. Joker decided to use push-down accounting. Immediately after the

acquisition, what Equipment amount would appear on Joker's separate balance sheet and on

Velway's consolidated balance sheet, respectively?