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 $1,090,000 for Oxford, which has the following accounts: Fair Value Tax Basis Accounts receivable $ 215,000 $ 215,000 Inventory 213,000 213,000 Land 186,000 186,800 Buildings 231,000 188,000 Equipment 265,000 212,000 Liabilities (275,000) (275,000) Required: 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 21 percent effective tax rate. Complete this question by entering your answers in the tabs below. Required A Required B Required Required A Required B Required C What amount of deferred tax liability arises in the acquisition? Deferred tax liability Required A Required B Required C What amounts will be used to consolidate Oxford with King's Road at the date of acquisition? (Credit balances sho indicated with minus sign.) Amount $ 0 Assigned to specific accounts Required A Required B Required C On a consolidated balance sheet prepared immediately after this take Assume a 21 percent effective tax rate. Goodwill