Cash 4. On April 1. 2021. Papen Company paid $950,000 for all the issued and outstanding stock of Simon Corporation. The recorded assets and liabilities of the Simon Corporation on April 1, 202, follow $ 80,000 Inventory 240.000 Property and equipment (net of accumulated depreciation of 5320,000) 480.000 Liabilities (180,000) On April 1, 2021. it was determined that the inventory of Simon had a fair value of $190,000, and the property and equipment (net) had a fair value of $500,000. What is the amount of goodwill resulting from the business combination SO b. $120,000 $300.000 $210.000 3. Aparent may acquire a subsidiary in a different industry from its own a means of diversitying its overall business in a True b. False The SEC requires publicly held companies to report their consolidation policies under Regulation X Rule 2 True b. Fale