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Requlred Information [The following information applies to the questions displayed below.] The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are follows: Sean $ 68.999 32, eee 46,90e 276,000 BALANCE SHEETS December 31, 2020 Patrick Cash $ 3 BU,990 Accounts receivable (net) 134,999 Inventories 89,000 Plant and equipment (net) 632, Investment in Sean 478,000 Total assets $1,400,000 Accounts payable 168,909 Long-term debt 106,000 Common stock ($10 par) 316,000 Additional paid-in capital Retained earnings 814, 900 Total liabilities and shareholders $1,404,000 equity $ 422,990 98,990 30,000 48,000 14,000 232,990 $ 422,000 Additional Information: On December 31, 2020. Patrick acquired 100 percent of Sean's voting stock in exchange for $478,000. At the acquisition date, the fair values of Sean's assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Sean's inventory were $20,000 more than their carrying amounts. In the December 31, 2020. consolidated balance sheet of Patrick and its subsidiary, what amount of total assets should be reported? Multiple Choice Multiple Choice $1,384.000 O $1,404,000 $1,532,000 $2.010.000