On June 1, Cline Co. paid $877,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow Cash Accounts receivable Capitalized software costs Goodwill Liabilities Net assets $ 166,000 184,000 341,000 148,000 (200,000) $ 639,000 On June 1, Renn's accounts receivable had a fair value of $142,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $256,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill? Multiple Choice $172,000 $130,000