Amber Ltd Purchased 80% of Patel Ltd

Multiple Choice

Amber Ltd. purchased 80% of Patel Ltd. for $1,000,000. At the time of acquisition, the carrying value of Patel's net identifiable assets was $1,000,000 and the fair value was $1,350,000. What is the amount of the goodwill under the entity method?

A) $(100,000)
B) $100,000
C) $280,000
D) $350,000