On 1/1/2017 P Company acquired all the net assets of S Company. P Company also agreed to pay an additional $70000 to the former stockholders of S Company if the average earnings next two years exceeded $800000. The entry recorded if target is met: Select one: : a. Dr. Cash 70000 Cr. Income 70000 O b. Dr. Contingent liability 70000 Cr. Cash 70000 O c. Dr. Contingent liability 70000 Cr. Income 70000 O d. Dr. Goodwill 70000 Cr. Contingent liability 70000