Presented Below Are the Balance Sheets of Monty Company and Hall

Presented below are the balance sheets of Monty Company and Hall Company at January 1, 20X6: $\begin{array}{ll}\text { Hall Company Balance } && \text { MontyC omp any } \\\text { Sheet } && \text { Balance Sheet } \\\text { January 1, 20X6 } && \text { January 1, 20X6 }\\\text { Cash } & \$ 100 & \text { Cash } & \$ 400 \\\text { Net fixed assets } & \underline{400} & \text { Net fixed assets } & \underline{380} \\\text { Total assets } & \$ 500 & \text { Total assets } & \$ 780\\\text { Accounts payable Long- }& \$ 20& \text { Accounts payable Long- } &\$ 120\\\text { term bonds }&&\text { term bonds }&\\\text { payable }&220&\text { payable }&280\\\text { Stockholders' equity Total } &260 & \text { Stockholders' equity } &380\\\text { liabilities and }&&\text { Total liabilities and }\\\text { stockholders' equity } & \$ 500 & \text { stockholders' equity }&\$ 780\\\end{array}$ On January 1, 20X6, Monty Company acquired 100% of the outstanding common stock of Hall Company for $260 in cash. If Hall Company generated net income during 20X2 of $30, and none of the income resulted from intercompany sales, would be the amount of the elimination entry at the end of 20X6.

A) $230
B) $290
C) $30
D) $- 0-