Halwell Motor Company acquires all of the stock of Ornex Auto Services for $120,000,000 in cash. The books of Ornex report the following account balances at the date of acquisition (in trial balance format). Date- of-acquisition fair values are also displayed. Current assets Property, net Liabilities Capital stock Retained earnings Total Book Value Dr (Cr) Fair Value Dr (Cr) $2,000,000 $1,300,000 118,000,000 80,000,000 (70,000,000) $(72,000,000) (20,000,000) (30,000,000) Select one: $0 Ornex has no previously unrecorded identifiable intangibles. On the consolidation working paper, eliminating entry (E) a. credits Investment in Ornex by $70,000,000 b. debits capital stock by 20,000,000 c. debits current assets by $700,000 d. debits goodwill by $110,700,000

On the corsoldaten wening paper, eliminateng enty if Select one A. credits invesument in Orner by smopoo,000 b. dinbots captal stod by 20,0000000 cidebess ciment asues by 5700000 d. debis goodwir by s110 700000