On January 1,2010,Red Company Purchased Patriot Shop for $400,000 Cash

On January 1,2010,Red Company purchased Patriot Shop for $400,000 cash.Red Company received the assets listed below and assumed accounts payable (owed by Patriot) amounting to $30,000.

$\begin{array}{lrr}&\text {Book Value per } &\text {Appraised } \\&\text {Patriot's Books } &\text {Market Value } \\\text {Inventory} & \$ 300,000 & \$ 280,000 \\\text { Furniture and fixtures } & 60,000 & 73,000 \\\text { Other assets } & 10,000 & 32,000\end{array}$ What amount of Goodwill will be recorded in the transaction?

A) $35,000
B) $20,500
C) $50,000
D) $45,000