14. On January 1, 2018, ate,Abboud, Inc. purchased 80% of Goodhope Corporation for pu Based on the appraisal done at the of book values equal to their fair values except as to k value of the net assets of Goodhope totaled $300,000 e time of the purchase, all assets and liabilities had t as follows Fair Value Inventory Land Equipment (useful life 5 years) Book Value $100,000 75,000 125,000 $120,000 80,000 165,000 The remaining excess of fair over book value was allocate useful life d to a patent with a 5-year uring 2018 Abboud reported net income of $170,000 and Goodhope had net income of $85,000 at is total net income for the controlling interest if Abboud recognizes income from Goodhope using the sophisticated equity method? Wh a.$238,000 $226,000 C.$170,000 d. $285,000