Packard Company Acquires the Assets and Liabilities of Sutton Company

Packard Company acquires the assets and liabilities of Sutton Company, with an acquisition cost that is less than the fair value of its identifiable net assets. The difference between acquisition cost and the fair value of identifiable net assets acquired

A) Increases net income on the income statement
B) Increases other comprehensive income
C) Reduces noncurrent assets acquired
D) Reduces goodwill