Jackson Co. purchased the net assets of Lewis, Inc. for $1,500,000 cash directly from Lewis, Inc. Lewis, Inc. had total assets with a BV of $1,000,000 and a FMV of $800,000, and total liabilities with both a BV and FMV of $400,000. The amount of Goodwill Jackson Co. will recognize upon booking this transaction will be:

Question 23 options:

a)

$0

b)

$900,000

c)

$1,100,000

d)

$100,000