Glover Chemical purchased 100 percent of the outstanding stock ofWard Supply on December 31 for $100,000 cash. As of that date the FMVs of the inventory and fixed assets of Ward equaled $70,000 and $125,000, respectively. Assume that cash, accounts receivable, and the liabilities are on the books of Ward at FMV. Provide the information to complete the follow¬ ing consolidated work sheet, which already reflects the entry recorded at acquisition. Adjustments and Eliminations Consolidated Accounts Glover Ward Cash 73,000 10,000 Accounts Receivable 110,000 40,000 Inventory 220,000 60,000 Investment in Subsidiary 100,000 — Fixed Assets 615,000 120,000 Goodwill 30,000 — Total Assets 1,148,000 230,000 Accounts Payable 80,000 70,000 Long-Term Notes 450,000 80,000 Common Stock 500,000 70,000 Retained Earnings 118,000 10,000 Total Liabilities and - Stockholders’ Equity 1,148,000 230,000