Wilkins Inc

Multiple Choice

Wilkins Inc. acquired 100% of the voting common stock of Granger Inc. on January 1, 2021. The book value and fair value of Granger's accounts on that date (prior to creating the combination) are as follows, along with the book value of Wilkins's accounts: Assume that Wilkins issued preferred stock with a par value of $260,000 and a fair value of $500,000 for all of the outstanding shares of Granger in an acquisition business combination. What will be the balance in the consolidated Inventory and Land accounts?

A) $440,000, $540,000.
B) $440,000, $560,000.
C) $410,000, $540,000.
D) $410,000, $560,000.
E) $390,000, $460,000.