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 $900,000 for Oxford, which has the following accounts: Fair Value Tax Basis $160,000 Accounts receivable Inventory Land Buildings Equipment Liabilities Required: $160,000 218,000 218,000 111,000 111,000 224,250 165,000 235,250 175,000 (264,000) (264,000) 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 C What amounts will be used to consolidate Oxford with King's Road at the date of acquisition? (Credit balances should be indicated with minus sign.) Accounts receivable Inventory Amount $ 160,000 218,000 111,000 Land Buildings 224,250 Equipment Liabilities 235,250 (264,000) Deferred tax liability Assigned to specific accounts $ 684,500