Xmen Ltd purchased all the shares of Logan Ltd on 1 Jan 20X8 for $500,000. On that date, Logan Ltds equities had share capital of $300,000, general reserve of $50,000, and retained profits of $120,000. On the control date, the fair value of Logan Ltds net assets was $20,000 lower than their carrying amount. How much consolidation goodwill/bargain purchase gain should be reported in the consolidated financial statements?

A. $30,000 consolidation bargain purchase gain

B. $30,000 consolidation goodwill

C. $50,000 consolidation goodwill

D. $50,000 consolidation bargain purchase gain

PLEASE PROVIDE A CALCULATION AND EXPLANATION!!! AND HOW COME THE ANSWER IS "C"