Parent and Sub Inc. had the following balance sheets on December 31, 2018:

On January 1, 2019 Parent purchased all of Sub Inc.?s Common Shares for $40,000 in ca that date, Sub?s Current Assets and Fixed Assets were worth $26,000 and $54,000, respe Assuming that Consolidated Financial Statements were prepared on that date, answer the following:

The Goodwill arising from this Business Combination would be:

A) $7,000

B) $120,000

C) $17,000)

D) $17,000

Current Assets Fixed Assets (net) Total Assets Current Liabilities Bonds Payable Common Shares Retained Earnings Total Liabilities and Equity Parent $ 60,000 $100,000 $160,000 $ 42,000 $ 20,000 $ 90,00 $8,000 $160,000 Sub $10,000 $60,000 $70,000 $35,000 $12,000 $12,000 $11,000 $70,000