WILKINS INC ACQUIRED 100% OF THE VOITING COMMON STOCK OF GRANGER INC ON 1/1/21. THE BOOK VALUE AND FAIR VALUE OF GRANGER'S ACCOUNTS ON THAT DATE (PRIOR TO CREATIN G THE COMBINATION) ARE AS FOLLOWS, ALONG WITH THE BOOK VALUE OF WILKIN'S ACCOUNTS

WILKINS BOOK VALUE GRANGER BOOK VALUE GRANGER FAIR VALUE

RETAINED EARNINGS (1/1/21) 250,000 240,000

CASH/RECEIVABLES 170,000 70,000 70,000

INVENTORY 230,000 180,000 210,000

LAND 320,000 220,000 240,000

BUILDING (NET) 480,000 240,000 280,000

EQUIPMENT (NET) 120,000 90,000 90,000

LIABILITIES 650,000 440,000 430,000

COMMON STOCK 360,000 80,000

APIC 60,000 40,000

ASUME THAT WILKINS ISSUED PREFERRED STOCK WITH A PAR VALUE OF $260,000 AND A FAIR VALUE OF $500,000 FOR ALL OF THE OUTSTANDING SHARES OF GRANGER IN AN ACQUISTION BUSINESS COMBINATION. WHAT WILL BE THE BALANCE IN THE CONSOLIDATED INVENTORY AND LAND ACCOUNTS

440,000/540,000

440,000/560,000

410,000/540,000

410,000/560,000

390,000/460,000