On July 1, 2012, an acquiring company Corp. paid $550,000 for 100% of the outstanding common stock of an investee company in a transaction that qualifies as a business combination. Immediately preceding the transaction, the investee company had the following condensed balance sheet: The acquisition-date fair value of the property and equipment was $110,000 more than its carrying amount. For all other assets and liabilities, the pre-acquisition amounts reported on investee's balance sheet were equal to their respective fair values. Effects of consolidation on reported balance sheet amounts What amount of goodwill related to the acquisition of the investee must the acquiring company report in its consolidated balance sheet immediately following the acquisition of investee company common stock? $0 $110,000 $40,000 $150,000