Packed Powder Corporation bought all of the stock of Snowfall Corporation from its existing shareholders on June 30, 20X4. Packed Powder paid Snowfall's shareholders a total of $2,000,000, which happened to be exactly equal to the recorded stockholders' equity of Snowfall. Further, the recorded values for each of the assets and liabilities of Snowfall were approximately equal to their estimated fair values. Following is a listing of the separate assets and liabilities of each company, immediately following the acquisition:

Complete the "Consolidated" column to show how these accounts would appear in the consolidated balance sheet for Packed Powder and its subsidiary.

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Consolidating Spreadsheet A B 1 2 Cash 4 Accounts receivable Accounts Packed Powder $ 450,000 C Snowfall $ 60,000 400,000 5 Inventory 6 Investment in Snowfall 1,250,000 185,000 125,000 2,000,000 7 Land 850,000 380,000 8 Buildings and equipment (net) 1,300,000 1,700,000 9 $6,250,000 $2,450,000 10 Consolidated 11 Accounts payable 760,000 150,000 14 Notes payable 2,400,000 300,000 16 Common stock 500,000 400,000 17 Retained earnings 2,590,000 1,600,000 18 $6,250,000 $2,450,000 $