1. Hillsdale Industries acquired the net assets of a competitor, Ingles, for cash. Amounts recorded by Hilsdale related to the acquisition included current assets of $80,000, intangibles of $125,000, goodwill of $75,000, and current liabilities of $150,000. How much did Hillsdale pay Ingles? OA) $55,000 B) $70,000 C) $75,000 OD) $130,000