Thousands of people work together every day so that fresh st…

Thousands of people work together every day so that fresh steak gets delivered to people in Gainesville, Florida as cheaply as possible so that you can buy it if you so choose.  Many of the people involved in this process don’t know or even care about the people living in Gainesville.  Which of the following does this best reflect?

Wilkins Inc. acquired 100% of the voting common stock of Gra…

Wilkins Inc. acquired 100% of the voting common stock of Granger Inc. on January 1, 2021. The book value and fair value of Granger’s accounts on that date (prior to creating the combination) are as follows, along with the book value of Wilkins’s accounts:     Wilkins Book Value Granger Book Value Granger Fair Value Retained earnings, 1/1/21 $ 250,000 $ 240,000     Cash and receivables   170,000   70,000 $ 70,000 Inventory   230,000   180,000   210,000 Land   320,000   220,000   240,000 Buildings (net)   480,000   240,000   280,000 Equipment (net)   120,000   90,000   90,000 Liabilities   650,000   440,000   430,000 Common stock   360,000   80,000     Additional paid-in capital   60,000   40,000       Assume that Wilkins issued 13,000 shares of common stock, with a $5 par value and a $46 fair value, to obtain all of Granger’s outstanding stock. In this acquisition transaction, how much goodwill should be recognized?                         A)    $178,000.                        B)    $138,000.            C)    $98,000.            D)    $94,000.            E)    $0.