Assume a parent company acquired of the outstanding voting common stock of a subsidiary on January On the acquisition date, the
identifiable net assets of the subsidiary had fair values that approximated their recorded book values except for a patent, which had a fair value of
$ and no recorded book value. On the date of acquisition, the patent had five years of remaining useful life and the parent company
amortizes its intangible assets using straight line amortization. During the year ended December the subsidiary recorded sales to the
parent in the amount of $ On these sales, the subsidiary recorded preconsolidation gross profits equal to Approximately of this
merchandise remains in the parent's inventory at December The following summarized preconsolidation financial statements are for the
parent and the subsidiary for the year ended December :
Based on this information, determine the balance for Current Assets:
Select one:
a $
b $
c $
d $
