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 $975,000 for Oxford, which has the following accounts: Accounts receivable Inventory Land Buildings Equipment Liabilities Required: Fair Value Tax Basis $118,000 $ 118,000 208,000 208,000 156,000 156,000 232,000 181.000 297,000 243,000 (292,000) (292,000) 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 amount of deferred tax liability arises in the acquisition?