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  3. presented below is the balance sheet of hansen com

Presented below is the balance sheet of Hansen Company at January 1, 2015: ...

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Accounting

Presented below is the balance sheet of Hansen Company at January 1, 2015:

Cash $100

Net Fixed Assets 400

Total Assets $500

Accounts Payable $20

Long-term Bonds Payable 220

Stockholders' Equity 260

Total Liabilities and Stockholders' Equity $500

The balance sheet of Monty Company at January 1, 2015 is below:

Cash $400

Net Fixed Assets 380

Total Assets $780

Accounts Payable $120

Long-term Bonds Payable 280

Stockholders' Equity 380

Total Liabilities and Stockholders' Equity $780

On January 1, 2015, Monty Company acquired 100 percent of the outstanding common stock of Hansen Company for $260 cash. The book value and fair value of Hansen's assets and liabilities were equal.

What is the amount of Total Liabilities on the consolidated balance sheet immediately after the acquisition of Hansen Company's stock? (Assume elimination entries are completed.)

A) $0

B) $380

C) $400

D) $640

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