do 1.00 The next three questions are based on the following information: On 1/1/X, Palm Company acquired 90,000 shares (90% interest)in Soso Company for $6 per share. At the time, Soso's equity included $200,000 of Capital Stock and $300,000 of Retained Earnings. An Appraisal of Soso's assets provided the following information: Book Account Equipment (10 years) 100,000 90.000 Fair Value Value Inventory 90.000 85.000 Datent (10 years) 20000 Land 70,000 50,000 Based on the preceding information, How much Goodwill will be reported on the Consolidated Balance sheet on 12/31/17 Account Book praisal Di Sosos assets provided the fair Fair Vaide Value Equipment (10 years) 100,000 90,000 Inventory 90,000 85,000 Patent (10 years) 20,000 Land 70,000 50,000 Based on the preceding Information, How much Goodwill will be reported on the Consolidated Balance sheet on 12/31/X1? 12 Select one: a. $0 b. $40,500 C. $45,000 d. None of the Above During year X1, Soso reported a $100,000 net income and paid $20,000 of dividends. Based on this information and the other information about Soso in the preceding questions, how much Income should Palm Company recognize from its Soso Investment in year X1? Select one: a. $82,000 b. 582,800 c. 590,000 d. None of the Above During year X1, Palm reported a $200,000 net income from its own operations. Based on the information provided about Palm and Soso in the two preceding questions, how much consolidated net income should be reported in year X1? Support Select one: a $282,800 b. 5292,000 C. $297.000 d. $300,000 e. None of the Above