On1/1/ 2019,PCo purchased 100% of the stock of S Co.Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:

P S

Cash 34,000 206,000

A/R 144,000 26,000

Inventory 132,000 38,000

Land 68,000 32,000

Plant assets 460,000 240,000

Investment in S 392,000

Accounts payable 206,000 113,000

Capital stock 800,000 329,000

Retained earnings 224,000 100,000

Total liabilities & equities 1,230,000 542,000

At the date of the acquisition, the book values of S net assets were equal to the fair value except for inventory, which had a fair value of $60,000.

What amount of total liabilities will be reported in Consolidated balance Sheet?

Select one:

a. 319,000

b. 278,000

c. 348,000

d. 206,000