on 25 Top Corporation acquired 100 percent of Sun Corporation's common stock on December 31,2019. Balance sheet data for the two companies immediately following the acquisition ed TOP SUN out of Cash $ 49,000 $ 30,000 Accounts Receivable 110,000 question 45,000 Inventory 130,000 70,000 Land 80,000 25,000 Buildings & Equipment 277,000 235,000 Investment in Sun Corporation 198,000 Total Assets $844,000 $405,000 Accounts Payable $ 61,500 $ 28,000 Taxes Payable 95,000 37,000 Bonds Payable 280,000 200,000 Common Stock 150,000 50,000 Retained Earnings 257,500 90,000 Total $844,000 $405,000 At the date of the business combination, the book values of Sun's net assets and liabilities approximated falr value except for inventory, which had a fair values 108,000 and land, which had a fair value of $45,000 . what is the goodwill total that should appear in the consolidated balance sheet prepared immediately after the business combination? Select one: a. O b. 58,000 c. 43,000 d. 23,000 26 1 P Corporation owns 80 percent of S Inc.'s common stock. During 2020, P sold Inventory to S for $250,000 on the same terms as sales made to third parties. S sold all of the inventory purchased from P in 2020 The following information pertains to S and P sales for 2020 aut of question P S Sales $1,000,000 $ 700,000 Cost of Sales (400,000) (350,000) Gross Profit $ 600,000 $ 350,000 What amount should P report as cost of sales in its 2021 consolidated income statement Select one: a. $500,000 b. $750,000 c. $680,000 d. $430,000