Dineshbhai On June 30, 2023, Wisconsin, Incorporated, issued $158.100 in debt and 21,600 new shares of its $10 par value stock to BadgerCompany owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share.Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2023, were asfollows (credit balances in parentheses):RevenuesExpensesNet incomeRetained earnings, 1/1Net incomeItemsDividends declaredRetained earnings, 6/38CashReceivables and inventoryPatented technology (net)Equipment (net)Total assetsLiabilitiesCommon stockAdditional paid-in capitalRetained earningsTotal liabilities and equitiesAccountsRequired:What are the consolidated balances for the following accounts?Note: Input all amounts as positive valuesa. Net incomeb. Retained earnings, 1/1/23c. Patented technology (net)d. Goodwille. Liabilitiesf. Common stockg. Additional paid-in capitalAnswer is complete but not entirely correct.SSWisconsin$ (983,000)687,000$ (296,000)$ (892,000)(296,000)102,250Amounts(9)Wisconsin also paid $31,600 to a broker for arranging the transaction. In addition, Wisconsin paid $45,600 in stock issuance costs.Badger's equipment was actually worth $703,000, but its patented technology was valued at only $304,900.458,000 X1,145,000 X$1,320,000 XS60,100 xIS1,065,000 XS 360,000 X540,000 XBadger$ (448,000)286,000$ (1,085,750)$ 187,750418,000987,000706,000$ 2,298,750$ (583,000)(360,000)(270,000)(1,085,750)$ (2,298,750) $ (1,367,009)$ (162,000)$ (253,000)(162,000)A$ (415,000)$ 259,000174,000333,000601,000$ 1,367,000$ (482,000)(200,000)(270,000)(415,000)

Consolidation -The process of consolidating financial accounts of related businesses into a single…

On June 30, 2023, Wisconsin, Incorporated, issued $158,100 in debt and 21,600 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2023, were as follows (credit balances in parentheses): Revenues Expenses Items Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 6/30 Cash Receivables and inventory Patented technology (net) Equipment (net) Wisconsin $ (983,000) 687,000 $ (296,000) $ (892,000) (296,000) 102,250 $ (1,085,750) $ 187,750 418,000 987,000 706,000 Badger $ (448,000) 286,000 $ (162,000) $ (253,000) (162,000) 8 $ (415,000) $ 259,000 174,000 333,000 601,000