2. On April 1, Pam Company paid $1,600,000 for all the issued and outstanding common stock of Sun Corporation in a transaction properly accounted for as an acquisition. Sun Corporation is dissolved. The recorded assets and liabilities of Sun Corporation on April 1 follow:

Cash $160,000 Inventory 480,000 Property and equipment (net of accumulated depreciation of $640,000) 960,000 Liabilities (360,000)

On April 1, it was determined that the inventory of Sun had a fair value of $380,000, and the property and equipment

(net) had a fair value of $1,120,000. What is the amount of goodwill resulting from the acquisition?

a 0 b $100,000 c $300,000 d $360,000