Assume Abbey, Inc., paid $479,000 to acquire all the common stock of Bookstore Corporation, and Bookstore owes Abbey $164,000 on a note payable. Immediately after the purchase on September 30, 2012, the two companies€™ balance sheets follow.

Requirement
Prepare the worksheet for the consolidated balance sheet of Abbey, Inc. Use Exhibit 8-7 as amodel.

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Abbey Bookstore Assets Cash $ 56,000 28,000 169,000 164,000 321,000 479,000 407,000 32/000 86,000 Inventory 490,000 tore.... Plant assets, net Total $1,596,000 $1,131,000 Liabilities and Stockholders' Equity Accounts payable Notes payable Other liabilities Common stock Retained earnings Total $ 122,000 61,000 289,000 302,000 253,000 226,000 S1,131,000 409,000 223,000 561,000 281,000 $1,596,000