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Post Records Incorporated acquired all of Script Studios' voting shares on January $1,20$X$2,$ for $$280,000.$ Post's balance sheet immediately after the combination contained the following balances:

POST RECORDS INCORPORATEDBalance SheetJanuary $1,20$X$2$Cash and Receivables$ $120,000$Accounts Payable$ $75,000$Inventory$110,000$Taxes Payable$50,000$Land$70,000$Notes Payable$300,000$Buildings and Equipment $($net$)350,000$Common Stock$400,000$Investment in Script Studios$280,000$Retained Earnings$105,000$Total Assets$ $930,000$Total Liabilities and Stockholders' Equity$ $930,000$

Script Studios$$ balance sheet at acquisition contained the following balances:

SCRIPT STUDIOSBalance SheetJanuary $1,20$X$2$Cash and Receivables$ $40,000$Accounts Payable$ $90,000$Inventory$180,000$Notes Payable$250,000$Buildings and Equipment $($net$)350,000$Common Stock$100,000$Goodwill$30,000$Additional Paid$-$In Capital$200,000$Retained Earnings$(40,000)$Total Assets$ $600,000$Total Liabilities and Stockholders' Equity$ $600,000$

On the date of combination, the inventory held by Script had a fair value of $$170,000,$ and its buildings and recording equipment had a fair$$value of $$375,000.$ Goodwill reported by Script resulted from a purchase of Sound Stage Enterprises in $20$X$1.$ Sound Stage was liquidated and its assets and liabilities were brought onto Script$$s books.

Required:

Compute the balances to be reported in the consolidated balance sheet immediately after the acquisition for:

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