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 $1,000,000 for Oxford, which has the following accounts:

Fair Value Tax BasisAccounts receivable $205,000 $205,000

Inventory139,000 139,000

Land118,000 118,000

Buildings292,500 232,000

Equipment268,250 214,000

Liabilities(270,000) (270,000)

a. What amount of deferred tax liability arises in the acquisition? Goodwill-------------.

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. Goodwill----.

b.Accounts receivable------------

Inventory--------

Buildings-----------

Equipment---------

Liabilities-----------

Deferred tax liability---------

Acquisition consideration----------