Plano, Inc. had common stock of $480,000 and retained earnings of $702,000. Richardson Corporation had common stock of $1,050,000 and retained earnings of $1,128,000. On January 1, 20X1, Richardson issued 105,000 shares of common stock with a $1 par value and a $15 fair value for all of Plano's outstanding common stock. Immediately after the combination, what were the consolidated net assets?
Select one:
a. $3,753,000
b. $2,757,000
c. $2,652,000
d. $3,465,000