On January 1, 2014, Sheldon Company Paid $750,000 Cash for 100

Multiple Choice

On January 1, 2014, Sheldon Company paid $750,000 cash for 100% of the outstanding common stock of Mullen Company; Mullen's book value of assets minus liabilities on the date of acquisition was $550,000. The current fair value of Mullen's net assets was $70,000 in excess of their book value. What was the amount of goodwill acquired by Sheldon Company?

A) $200,000.
B) $130,000.
C) $480,000.
D) $270,000.