on december 31 of the current year, penny corp. purchased 80% of the outstanding common stock of sutton, inc. for $1,100,000. on the purchase date, the book value of sutton's net assets equal $1,000,000 and the fair value equal $1,200,000. this business combination was accounted for under the acquisition method. in the current year consolidated balance sheet, what amount should be reported as goodwill?