The financial statements for Jode Inc. and Lakely Corp., just prior to their combination, for the year ending December 31, 2012, follow. Lakely's buildings were undervalued on its financial records by $60,000. 
On December 31, 2012, Jode issued 54,000 new shares of its $10 par value stock in exchange for all the outstanding shares of Lakely. Jode's shares had a fair value on that date of $35 per share. Jode paid $34,000 to an investment bank for assisting in the arrangements. Jode also paid $24,000 in stock issuance costs to effect the acquisition of Lakely. Lakely will retain its incorporation.
Determine consolidated Additional paid-in Capital at December 31, 2012.
Definitions:
Debriefing
The postexperimental explanation of a study, including its purpose and any deceptions, to its participants.
Research Participants
Individuals who take part in a research study, often providing data through their responses, behavior, or biological samples.
Critical Thinking
The process of actively analyzing, synthesizing, and evaluating information to reach conclusions, make decisions, or solve problems.
Unstated Assumptions
Implicit premises or beliefs that underpin arguments or decisions, which are not explicitly expressed.
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