Paccu Corporation Acquired 100 Percent of Sallee Company's Common Stock

Multiple Choice

Paccu Corporation acquired 100 percent of Sallee Company's common stock on January 1,20X7.Balance sheet data for the two companies immediately following the acquisition follow:
At the date of the business combination,the book values of Sallee's assets and liabilities approximated fair value except for inventory,which had a fair value of $55,000,and land,which had a fair value of $65,000.The fair value of land for Paccu Corporation was estimated at $90,000 immediately prior to the acquisition.
-Based on the preceding information,what amount of liabilities will be reported in the consolidated balance sheet prepared immediately after the business combination?

A) $300,000
B) $320,000
C) $417,000
D) $745,000