Question

On June 30, 2017, Wisconsin, Inc., issued $315,450 in debt and 18,100 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2017, were as follows:

	Wisconsin				Badger
Revenues	$	(985,000	)		$	(462,000	)
Expenses		707,000				293,000
Net income	$	(278,000	)		$	(169,000	)
Retained earnings, 1/1	$	(801,000	)		$	(236,000	)
Net income		(278,000	)			(169,000	)
Dividends declared		105,000				0
Retained earnings, 6/30	$	(974,000	)		$	(405,000	)
Cash	$	42,000			$	79,000
Receivables and inventory		413,000				216,000
Patented technology (net)		911,000				347,000
Equipment (net)		739,000				664,000
Total assets	$	2,105,000			$	1,306,000
Liabilities	$	(501,000	)		$	(431,000	)
Common stock		(360,000	)			(200,000	)
Additional paid-in capital		(270,000	)			(270,000	)
Retained earnings		(974,000	)			(405,000	)
Total liabilities and equities	$	(2,105,000	)		$	(1,306,000	)

Wisconsin also paid $39,700 to a broker for arranging the transaction. In addition, Wisconsin paid $41,600 in stock issuance costs. Badger’s equipment was actually worth $796,750, but its patented technology was valued at only $322,900.

What are the consolidated balances for the following accounts? (Input all amounts as positive values)

	Accounts	Amount
A.	Net income
B.	Retained earnings, 1/1/17
C.	Patented technology
D.	Goodwill
E.	Liabilities
F.	Common stock
G.	Additionals paid in capital

Answer 1