Answer:
Patrick Corporation Group
a. The amount of total assets is:
=  $1,544,000.
b. The amount of total stockholders' equity that should be reported is:
= $1,136,000.
Explanation:
a) Data and Calculations:
BALANCE SHEETS December 31, 2017
                                               Patrick        Sean          Consolidated
Cash                                    $70,000     $70,000           $140,000
Accounts receivable (net)   146,000       38,000             184,000
Inventories                           100,000      46,000             168,000
Plant and equipment (net) 622,000    262,000            884,000
Investment in Sean             470,000           -                       -
Goodwill                                                                           168,000
Total assets                     $1,414,000 $424,000        $1,544,000
Accounts payable                176,000     90,000            266,000
Long-term debt                   102,000     40,000            142,000
Common stock ($10 par)   340,000      64,000           340,000
Additional paid-in capital                        14,000
Retained earnings            796,000     216,000          796,000
Total liabilities and
  shareholders' equity  $1,414,000  $424,000      $1,544,000
b) Total stockholders' equity after consolidation is calculated as:
Common stock ($10 par)   340,000
Retained earnings             796,000 
Total equity =                 $1,136,000