King's Road recently acquired all of Oxford Corporation's stock and is now consolidating the financial data of this new subsidiary. King's Road paid a total of $850,000 for Oxford, which has the following accounts: a. What amount of deferred tax liability arises in the acquisition? b. What amounts will be used to consolidate Oxford with King's Road at the date of acquisition? c. On a consolidated balance sheet prepared immediately after this takeover, how much goodwill should King's Road recognize? Assume a 40 percent effective tax rate. Accounts receivable Inventory Land... Buildings Equipment. Liabilities Fair Value $153,000 141,000 136,000 276,000 233,000 (281,000) Tax Basis $153,000 141,000 136,000 221,000 160,000 (281,000)