Wilkins Incorporated acquired 100% of the voting common stock of Granger Incorporated on January 1, 2024. The book value and fair value of Grangers accounts on that date (prior to creating the combination) are as follows, along with the book value of Wilkinss accounts: Wilkins Book Value Granger Book Value Granger Fair Value Retained earnings, 1/1/24 $ 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 Buildings (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 Additional paid-in capital 60,000 40,000 Assume that Wilkins issued 13,000 shares of common stock with a $5 par value and a $46 fair value for all of the outstanding stock of Granger. What is the consolidated balance for Land as a result of this acquisition transaction? Multiple Choice $500,000 $550,000 $540,000 $560,000 $530,000