Prior to these transactions, the balance sheets for the two companies were as follows:

Items Presidio Company Mason Company

Cash $ $69,900$ $ $30,000$

Receivables $364,000117,000$

Inventory $360,000198,000$

Land $280,000194,000$

Buildings $($net$)482,000308,000$

Equipment $($net$)160,00072,900$

Accounts payable $(210,000)(52,800)$

Long$-$term liabilities $(496,000)(300,000)$

Common stock$$$$1$ par value $(110,000)0$

Common stock$$$$20$ par value $0(120,000)$

Additional paid$-$in capital $(360,000)0$

Retained earnings, $1/1/24(539,900)(447,100)$

Note: Parentheses indicate a credit balance.

Presidio$$s appraisal of Mason's fair values deemed three accounts to be undervalued: Inventory by $$9,500,$ Land by $$22,800,$ and Buildings by $$33,000.$ Presidio plans to maintain Mason$$s separate legal identity and to operate Mason as a wholly owned subsidiary.

a$.$ Separately determine each individual amount that Presidio Company would report in its consolidated balance sheet following the acquisition of Mason. Include in Presidio's retained earnings any adjustments to income accounts from part $($a$).$

Consolidated Totals

Cash

Receivables

Inventory

Land

Buildings $($net$)$

Equipment $($net$)$

Investment in Mason

Total Assets

Accounts payable

Long$-$term liabilities

Common stock

Additional paid$-$in capital

Retained earnings

Total liabilities and equities