The correct answer is D.

PLEASE EXPLAIN HOW & SHOW THE STEPS.

On January 1, 2019, Palk Corp. and Spraz Corp. had condensed balance sheets as follows: w.ww Palk Corp Spraz Corp. 28,000 99,000 Current assets $ 125,000 $ 56,000 Noncurrent assets Total assets 224,000 $ 84,000 42,000 $ 70,000 112,000 Total liabilities and stockholders' equity 224,000 Current liabilities $ 14,000 $ Long-term debt Stockholders' equity $ 70,000 $ 84,000 On January 2, 2019, Palk borrowed the entire $84,000 it needed to acquire 80% of the outstanding common shares of Spraz. Shares of Spraz are not actively traded on the market. The loan was to be paid in ten equal annual principal payments, plus interest, beginning December 31, 2019. The excess consideration transferred over the underlying book value of the acquired net assets was allocated 60% to inventory and 40% to goodwill [QUESTION] REFER TO: 04-06 25. What amount represents cons olidated current assets at January 2, 2019? A) $127,000 B) $129,800 C) $143,800 D) $148,000 E) $135,400