D) The value of any goodwill should be tested annually for impairment in value. E) Goodwill should be expensed in the year of acquisition. Use following information to solve Q 6-9 Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) are as follows, along with the book value of Bullen's accounts: Vicker Fair Value Retained earnings, 1/1/20 Cash and receivables Inventory Land Buildings (net) Equipment (net) Liabilities Common stock Additional paid-in capital Bullen Book Value $250,000 170,000 230,000 280,000 480,000 120,000 650,000 360,000 20,000 Vicker Book Value $240,000 70,000 170,000 220,000 240,000 90,000 430,000 80,000 40,000 $70,000 210,000 240,000 270,000 90,000 420,000 6. Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker's outstanding stock. In this acquisition transaction, how much goodwill should be recognized? A) $144,000. B) $104,000. C) $ 64,000. D) $ 60,000. E) $ 0. 7. Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding stock of Vicker. What is the consolidated balance for Land as a result of this acquisition transaction? A) $460,000. 2