Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included

are fair values for Sol Company accounts.

  Padre

Company Sol Company

  Book Values Book Values Fair Values   12/31 12/31 12/31 Cash   $ 526,750       $ 88,800       $ 88,800     Receivables     222,750         359,000         359,000     Inventory     487,500         283,000         334,500     Land     610,000         136,000         115,400     Building and equipment (net)     677,500         326,000         392,300     Franchise agreements     245,000         243,000         280,700     Accounts payable     (354,000 )       (134,000 )       (134,000 )   Accrued expenses     (108,000 )       (35,000 )       (35,000 )   Longterm liabilities     (977,500 )       (602,500 )       (602,500 )   Common stock—$20 par value     (660,000 )                       Common stock—$5 par value               (210,000 )             Additional paid-in capital     (70,000 )       (90,000 )             Retained earnings, 1/1     (542,500 )       (338,000 )             Revenues     (994,500 )       (379,300 )             Expenses     937,000         353,000               Note: Parentheses indicate a credit balance.

On December 31, Padre acquires Sol’s outstanding stock by paying $426,000 in cash and issuing 11,700 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $27,500 as well as $7,000 in stock issuance costs.

Determine the value that would be shown in Padre’s consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.)

I am having a hard time finding the additional paid -in capital and the retained earnings 12/31.

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