6- Answer step by step

6 Required information (The following information applies to the questions displayed below.) Part 5 of 6 On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65,000. On January 1, Suarez possessed equipment (five-year remaining life) that was undervalued on its books by $25,000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31, the financial statements appeared as follows: Jarel Suarez Revenues $ (300,000) $ (200,000) Cost of goods sold 140,000 80,000 Expenses 20,000 10,000 Net income (140,000) $(110,000) Retained earnings, 1/1 $ (300,000) $(150,000) Net income (140,000) (110,000) Dividends declared 0 Retained earnings, $ (440,000) $(260,000) Cash and receivables $ 210,000 $ 90,000 Inventory 150,000 110,000 Investment in Suarez 260,000 0 Equipment (net) 440,000 300,000 Total assets $ 1,060,000 $ 500,000 Liabilities $ (420,000) $(140,000) Common stock (200,000) (100,000) Retained earnings, 12/31 (440,000) (260,000) Total liabilities and $(1,060,000) $(500,000) equities 12/31 Included in the preceding statements, Jarel sold inventory costing $80,000 to Suarez for $100,000. Of these goods, Suarez still owns 60 percent on December 31. What is the consolidated total for inventory at December 31? Multiple Choice $248,000 o $240,000 $260,000 o $250,000