Arizona Corp. acquired the business Data Systems for $295,000 cash and assumed all liabilities at the date of purchase. Datas books showed tangible assets of $290,000, liabilities of $14,000, and stockholders equity of $276,000. An appraiser assessed the fair market value of the tangible assets at $285,000 at the date of acquisition. Arizona Corp.s financial condition just prior to the acquisition is shown in Required B.