Cozzi Company Is Being Purchased and Has the Following Balance

Multiple Choice

Cozzi Company is being purchased and has the following balance sheet as of the purchase date: $\begin{array}{llll}\text { Current assets } & \$ 200,000 & \text { Liabilities } & \$ 90,000 \\\text { Fixed assets } & 180,000 & \text { Equity } & 290,000\\\text { Total }&\$380,000&\text { Total }&\$380,000\end{array}$ The price paid for Cozzi's net assets is $500,000. The fixed assets have a fair value of $220,000, and the liabilities have a fair value of $110,000. The amount of goodwill to be recorded in the purchase is ____.

A) $0
B) $150,000
C) $170,000
D) $190,000