On April 30, 2014, Brother, Inc purchased for $30 per share all 200,000 of Cousin Corp's outstanding common stock. On this date Cousin's balance sheet showed net assets of $5,000,000 . Additionally, the fair value of Cousin's identifiable assets on this date was $400,000 in excess of their carrying amount. On Brother's April 30, 2014, consolidated balance sheet, what amount should be reported as
goodwill?
a. $350,000
b. $400,000
c. $600,000
d. $1,000,000
C
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