On June 30, 2020, Wisconsin, Inc., issued $200,200 in debt and 19,300 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, 2020, were as follows (credit balances in parentheses): Wisconsin Badger
Revenues $ (1,050,000) $ (402,000)
Expenses 732,000 293,000
Net income $ (318,000) $ (109,000)
Retained earnings, 1/1 $ (810,000) $ (223,000)
Net income (318,000) (109,000)
Dividends declared 103,000 0
Retained earnings, 6/30 $ (1,025,000) $ (332,000)
Cash $ 72,000 $ 86,000
Receivables and inventory 460,000 252,000
Patented technology (net) 928,000 328,000
Equipment (net) 726,000 648,000
Total assets $ 2,186,000 $ 1,314,000
Liabilities $ (531,000) $ (512,000)
Common stock (360,000) (200,000)
Additional paid-in capital (270,000) (270,000)
Retained earnings (1,025,000) (332,000)
Total liabilities and equities $ (2,186,000) $ (1,314,000)
Note: Parentheses indicate a credit balance.
Wisconsin also paid $36,200 to a broker for arranging the transaction. In addition, Wisconsin paid $47,800 in stock issuance costs. Badger’s equipment was actually worth $780,000, but its patented technology was valued at only $299,200.
What are the consolidated balances for the following accounts? (Input all amounts as positive values.)
Net Income 281,800
Retained Earnings 1/1/15 810,000
Patented Technology 1,227,200
Goodwill
Liabilities 1,243,200
Common Stock 553,000
Additional Paid-In Capital 801,200