Top Corporation acquired 100 percent of Sun Corporation's common stock on December 31, 2012. Balance sheet data for the two companies immediately following the acquisition follow:

             Item

Top  Corporation

Sun
Corporation

  Cash

$

49,000

$

  30,000

  Accounts Receivable

110,000

45,000

  Inventory

130,000

70,000

  Land

80,000

25,000

  Buildings & Equipment

500,000

400,000

  Less: Accumulated Depreciation

(223,000

)

(165,000

)

  Investment in Sun Corporation Stock

198,000

  Total Assets

$

844,000

$

405,000

  Accounts Payable

$

61,500

$

28,000

  Taxes Payable

95,000

37,000

  Bonds Payable

280,000

200,000

  Common Stock

150,000

50,000

  Retained Earnings

257,500

90,000

  Total Liabilities & Stockholders’ Equity

$

844,000

$

405,000

At the date of the business combination, the book values of Sun's net assets and liabilities approximated fair value except for inventory, which had a fair value of $85,000, and land, which had a fair value of $45,000.

Required:

For each question, indicate the appropriate total that should appear in the consolidated balance sheet prepared immediately after the business combination.

1.

What amount of inventory will be reported?

2.  What amount of goodwill will be reported?

3. What amount of total assets will be reported?

4.  What amount of total liabilities will be reported?

5. What amount of consolidated retained earnings will be reported?

6.    What amount of total stockholders’ equity will be reported?