Practice Questions for Test 3 General: As part of the C-Suite team you are being asked to report to the CEO directly regarding financial matters, Crunch the following numbers and report back to the CEO: The equity accounts of X Company total $3,000,000. y C Company purchases 75% of x for $2,400,000 on 1/1/9. The fair values of net assets are equal to book values. What is the amount of goodwill? A. $150,000 B. $200,000 C. $400,000 D. $600,000 E. $800,000 ONE CORRECT