During 2019,Manning Corporation Purchased 100% of the Outstanding Voting Common

question 70

Multiple Choice

During 2019,Manning Corporation purchased 100% of the outstanding voting common stock shares of Brady Corporation for $4.0 million.Brady's assets had a book value of $5.0 million and fair value of $6.5 million.The book value as well as fair value of Brady's liabilities equaled $3.2 million.How much was paid for goodwill?

• A)$0.
• B)$2,200,000.
• C)$700,000.
• D)$1,000,000.

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