What are the consolidated balances for the following accounts?
On June 30, 2020, Wisconsin, Inc., issued $267,350 in debt and 18,400 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 | $ | (985,000 | ) | $ | (339,000 | ) | ||
| Expenses | 720,000 | 201,000 | ||||||
| Net income | $ | (265,000 | ) | $ | (138,000 | ) | ||
| Retained earnings, 1/1 | $ | (843,000 | ) | $ | (208,000 | ) | ||
| Net income | (265,000 | ) | (138,000 | ) | ||||
| Dividends declared | 106,250 | 0 | ||||||
| Retained earnings, 6/30 | $ | (1,001,750 | ) | $ | (346,000 | ) | ||
| Cash | $ | 110,750 | $ | 59,000 | ||||
| Receivables and inventory | 433,000 | 180,000 | ||||||
| Patented technology (net) | 929,000 | 372,000 | ||||||
| Equipment (net) | 727,000 | 619,000 | ||||||
| Total assets | $ | 2,199,750 | $ | 1,230,000 | ||||
| Liabilities | $ | (568,000 | ) | $ | (414,000 | ) | ||
| Common stock | (360,000 | ) | (200,000 | ) | ||||
| Additional paid-in capital | (270,000 | ) | (270,000 | ) | ||||
| Retained earnings | (1,001,750 | ) | (346,000 | ) | ||||
| Total liabilities and equities | $ | (2,199,750 | ) | $ | (1,230,000 | ) | ||
Wisconsin also paid $30,800 to a broker for arranging the transaction. In addition, Wisconsin paid $43,100 in stock issuance costs. Badger’s equipment was actually worth $765,250, but its patented technology was valued at only $350,700.
What are the consolidated balances for the following accounts? (Input all amounts as positive values)
a. net income
b. retained earnings, 1/1/20
c. Patented technology (net)
d.
e. liabilities
f. common stock
g. additional paid-in capital
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