Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) are as follows, along with the book value of Bullen's accounts: BullenBook ValueVickerBook ValueVickerFair ValueRetained earnings, 1/1/20$250,000$240,000 Cash and receivables 170,000 70,000$70,000Inventory 230,000 170,000 210,000Land 280,000 220,000 240,000Buildings (net) 480,000 240,000 270,000Equipment (net) 120,000 90,000 90,000Liabilities 650,000 430,000 420,000Common stock 360,000 80,000 Additional paid-in capital 20,000 40,000 ?Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding stock of Vicker.
What is the consolidated balance for Land as a result of this acquisition transaction?
A. $510,000.
B. $490,000.
C. $460,000.
D. $500,000.
E. $520,000.
Answer: E
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