Corp. acquired 80% of ABC Corp.'s stock for $500,000 on January 1, 20X8. The fair value of the non-controlling interest was $125,000 at the same date. Through ABC Corp.' financial statement, the carrying amount of ABC's net assets was $400,000. And fair market value of ABC's net assets was $550,000 on January 1, 20X8. ABC earned an income of $150,000 and paid $125,000 cash dividends during 20X8. What amount of goodwill did report in the January 1, 20x8 consolidated balance sheet? A. $0 B. $75,000 C. $60,000 D. $150,000 In year 1, Co. acquired 80% of Silver Co.'s outstanding common shares. During next year, Silver had net income of $60,000. In addition, Co. sold goods to Silver Co. for $15,000. At that time, 's book value of the goods is $11,000. At the end of year 2, Silver Co. still held the goods without selling to outsiders. For consolidation purposes, what is the non-controlling interest's share of Silver's net income for year 2? A. $11,200 B. $12,000 C. $12,800 D. $16,000 Which of the following is correct about goodwill? A. Goodwill has been created from a business acquisition. B. There are costs associated with developing goodwill. c. The fair market value of the company's assets exceeds their book value. D. The acquisition cost of a business exceeds the book value of the investee's net assets