Maryhill Corp. purchased all of Hood River Company's common stock for $3,612,000 cash on January 1. When analyzing the purchase price, Maryhill Corp. determined that the other assets of Hood River were undervalued by $633,600 and that the company had an unrecorded liability of $240,000 related to ongoing litigation. Any excess purchase price was for goodwill.

Use the following table to consolidate the balance sheets of the two companies as of the acquisition date.

	Maryhill	Hood River	Consolidating Adjustments	Consolidated Balance Sheet
Investment in Hood River	$3,612,000
Other assets	6,156,000	$2,452,800
Goodwill
Total assets	$9,768,000	$2,452,800
Liabilities	$4,060,800	$1,166,400
Common stock	2,052,000	540,000
Retained earnings	3,655,200	746,400
Total Liabilities & Equity	$9,768,000	$2,452,800

Answer rating: 100% (QA)

The completed table is provided as follows Maryhill Hood River ... View the full answer