On 1/1/2019 J Co acquired 75% of M Co outstanding common stock for cash The fair value of the non controlling interest was equal to proportionate share of the book value of M Co net assets at the date of acquisition. Selected balance sheet data at January, 1 2019, are as follows

J M

total assets 252,000 108,000

liabilities 74,000 36,000

common stock 60,000 30,000

retained earning 120,000 42,000

Based on the preceding information, what amount will J Company report as common stock outstanding in its consolidated balance sheet at 1/1/ 2019?

Select one: a. 60,000 b. 78,000 c. 90,000 d. 123,000