On June 30, 2017, Wisconsin, Inc., issued $137,250 in debt and 22,300 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, 2017, were as follows:
Wisconsin Badger Revenues $ (983,000) $ (477,000) Expenses 673,000 293,000 Net income $ (310,000) $ (184,000) Retained earnings, 1/1 $ (849,000) $ (238,000) Net income (310,000) (184,000) Dividends declared 92,500 0 Retained earnings, 6/30 $ (1,066,500) $ (422,000) Cash $ 170,500 $ 165,000 Receivables and inventory 452,000 211,000 Patented technology (net) 917,000 398,000 Equipment (net) 745,000 617,000 Total assets $ 2,284,500 $ 1,391,000 Liabilities $ (588,000) $ (499,000) Common stock (360,000) (200,000) Additional paid-in capital (270,000) (270,000) Retained earnings (1,066,500) (422,000) Total liabilities and equities $ (2,284,500) $ (1,391,000) Wisconsin also paid $32,000 to a broker for arranging the transaction. In addition, Wisconsin paid $42,600 in stock issuance costs. Badger’s equipment was actually worth $728,750, but its patented technology was valued at only $371,900.
What are the consolidated balances for the following accounts?
A. Net Income?
B. Retained earnings, 1/1/20 ?
C. Patented technology (net) ?
D. Goodwill ?
E. Liabilities ?
F. Common Stock ?
G. Additional paid in capital ?