Week 2 - Learning Activity @ Saved Help Save & Exit Submit Check my work Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also Included are fair values for Sol Company accounts 0.75 Sol Company oints Padre Company Book Values Fair Values Items Book Values 12/31 12/31 12/31 Skipped Cash $ 510,750 $ 45, 400 3 45,400 Receivables 277, 50e 369,080 369, Bee Inventory 487 , 508 243, ead 297, Bee Land 607, 508 eme 'pet 137, see Building and equipment (net) 830, 909 301,909 379, 380 Franchise agreements 316,060 275,609 309, 200 Book Accounts payable (388,000) 146, 809) (146,800) Accrued expenses (125, 080 (33,080) (33,080 Long-term liabilities 1, 102, 580) (610, eve) (een'019) Him Common stock-$20 par value (Bee '899) Common stock-$5 par value (210,809) Additional paid-in capital (70, 800) (90,e20) Retained earnings, 1/1 (630, 080) (280, 080) Print Revenues (1, 037, 750) (383, 409) Expenses 984, 908 355,090 Note: Parentheses Indicate a credit balance. References On December 31, Padre acquires Sol's outstanding stock by paying $140,000 in cash and issuing 17,300 shares of Its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $20.700 as well as $6,700 In stock issuance costs. Required: Determine the value that would be shown In Padre's consolidated financial statements for each of the accounts listed: Note: Input all amounts as positive values. Accounts Amounts Inventory Land Buildings and equipment Franchise agreements Goodwill Revenues Additional paid-in capita Expenses Retained earnings, 1/1 Retained earnings, 12/31 Cra