On January 1 , 20 x2, Polk Corp. and Strass Corp . had condensed balance sheets as follows :" Polk Strass Current assets 70 , 000 P 20, 000 Noncurrent assets 90, 000 40 , 000 P 160, 000 P60, 000 Current liabilities P 30, 000 P 10, 000 Long-term debt 50 , 000 Stockholders' equity 80. 000 50, 000 P 160, 000 P60, 000 On January 2, 20 *2, Polk borrowed P60, 000 and used the proceeds to purchase 90% of the outstanding common shares of Strass . This debt is payable in 10 equal annual principal payments , plus interest , beginning December 30 , 20 *2 . The excess cost of the investment over Strass book value of acquired net assets should be allocated 60% to inventory and 40% to goodwill . On Polk's January 2 , 20 x 2 consolidated balance sheet . 4 4 . Current assets should be 199. 000 6. P90. 000 C. P79. 000 J. P100, 000