Falter Acquired 100% of Krystal's Net Assets for $300,000 A)$(48,000)
B)$ 0
C)$36,000
D)$80,000

Falter acquired 100% of Krystal's net assets for $300,000. On the acquisition date, the fair value of the current assets and the net capital assets were $208,000 and $432,000 respectively. The fair value of the liabilities equalled their book value. What is the amount of goodwill created in this acquisition? $\begin{array}{|l|r|r|}\hline& \text { Falter Co. } & \text { Kustal Ltd. } \\\hline \text { Current assets } & \$ 480,000 & \$ 80,000 \\\hline \text { Net capital assets } & \underline{800,000} & \underline{480,000} \\\hline & \$ 1,280,000 & \$ 560,000 \\\hline \text { Current liabilities } & \$ 336,000 & \$ 280,000 \\\hline \text { Long-term debt } & 160,000 & 96,000 \\\hline \text { Share capital } & 720,000 & 1,000,000 \\\hline \text { Retained earnings } & \underline{64,000} & \underline{84,000} \\\hline & \$ \underline{1,280,000} & \$ \underline{560,000} \\\hline\end{array}$

A) $(48,000)
B) $ 0
C) $36,000
D) $80,000