On June 1, Cline Co. paid $996,000 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 $ 211,000 225,000 346,000 126,000 (165,000) $ 743,000 On June 1, Renn's accounts receivable had a fair value of $169,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $269,000. 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 $166,000 $110,000 On June 1, Renn's accounts receivable had a fair value of $169,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $269,000. 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 $166,000. $110,000 $16.000 $346,000