Tumble Corporation acquired for cash at $12 per share 100,000 shares of the outstanding common stock of Sunshine Company. The total fair value of the identifiable assets acquired minus liabilities assumed of Sunshine was $1,550,000 on the acquisition date, including the fair value of its property, plant, and equipment (its only noncurrent asset) of $250,000. The consolidated financial statements of Tumble Corporation and its wholly owned subsidiary must reflect O A gain of $100,000. O A deferred credit of $100,000. O A gain of $350,000. O Goodwill of $100,000.

Tumble Corporation acquired for cash at $12 per share 100,000 shares of the outstanding common stock of Sunshine Company. The total fair value of the identifiable assets acquired minus liabilities assumed of Sunshine was $1.650.000 on the acquisition date, including the fair value of its property, plant, and equipment is only concurrent st) of $250,000. The consolidated financial statements of Tumble Corporation and its wholly owned subsidiary must reflect Again of S100.000 A deferred credit of S100,000 Again of $350,000 Goodwill of S100,000