Multiple Choice LO 6 Price Company issued 8,000 shares of its $20 par value common stock for the net assets of Sims Company in a business combination under which Sims Company will be merged into Price Company. On the date of the combination, Price Company common stock had a fair value of $30 per share. Balance sheets for Price Company and Sims Company immediately prior to the combination were: Price Sims Current assets $ 438,000 $ 64,000 Plant and equipment (net) 575,000 136,000 Total $1,013,000 $200,000 Liabilities $ 300,000 $ 50,000 Common stock, $20 par value 550,000 80,000 Other contributed capital 72,500 20,000 Retained earnings 90,500 50,000 Total $1,013,000 $200,000 2. If the business combination is treated as a purchase and the fair value of Sims Company's current assets is $90,000, its plant and equipment is $242,000, and its liabilities are $56,000, Price Company's balance sheet immediately after the combination will include (a) Negative goodwill of $36,000. (b) Plant and equipment of $817,000. (c) Gain of $36,000. (d) Goodwill of $36,000