The following balance sheets were reported on January 1, 2016, for Wood Company and Rose Company: Cash Inventory Equipment (net) Total Wood $150,000 450,000 1,320,000 $1,920,000 Rose $30,000 150,000 570,000 $750,000 par value Total liabilities Common stock, $20 Other contributed capital Retained earnings Total $450,000 600,000 375,000 495,000 $1,920,000 $150,000 300,000 105,000 195,000 $750,000 Required: Appraisals reveal that the inventory has a fair value $180,000, and the equipment has a current value of $615,000. The book value and fair value of liabilities are the same. Assuming that Wood Company wishes to acquire Rose for cash in an asset acquisition, determine the following cutoff amounts: A. The purchase price above which Wood would record goodwill. B. The purchase price at which Wood would record a $50,000 gain. C. The purchase price below which Wood would obtain a "bargain." D. The purchase price at which Wood would record $75,000 of goodwill