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On 1/1/ 2019,PCo purchased 100% of the common stock of S Co.Separate balance sheet data for the companies at the acquisition date (after the acquisition)
On 1/1/ 2019,PCo purchased 100% of the common stock of S Co.Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: P Cash 34,000 A/R 206,000 26,000 144,000 Inventory 132,000 38,000 Land 68,000 Plant assets 32,000 240,000 460,000 Investment in S 392,000 Accounts payable 206,000 42,000 Capital stock 800,000 400,000 Retained earnings 224,000 100,000 At the date of the acquisition, the book values of S co net assets were equal to the fair value except for inventory, which had a fair value of $78,000. in consolidated balance What amount of Goodwill will be reported? Select one: O a. 68,000 b. 54,400 O d. 70,000
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