Question # 42 Revisit Choose the best option 0 MNO purchased all of XYZ's 100,000 outstanding common shares for 40 per share on August 31. On this date, XYZ's balance sheet showed total assets of 5,000,000 and total liabilities of 2,000,000. The fair value of XYZ's identifiable assets on this date was 550,000 greater than their carrying amount. The amount that should be reported on MNO's consolidated balance sheet on August 31 for goodwill is 450,000 O 550,000 O 1,000,000