On January 1, 2019, Karen Inc. paid $1,700,000 for all of Hanchon Corp.'s common stock. On
that date the costs and fair values of Hanchon's recorded assets and liabilities were as follows:
		Cost	Fair Value
	Cash	160,000	160,000
	Inventory	480,000	500,000
	Equipment	980,000	1,040,000
	Liabilities	(360,000)	(360,000)
	Net Assets	1,260,000	1,340,000
In Karen's December 31, 2019 consolidated balance sheet, what amount of goodwill
should be reported as a result of the acquisition?

Question 5 options:

	$400,000
	$360,000
	$440,000
	$396,000