On June 1, Cline Co. paid $969,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow:
Cash $247,000
Accounts receivable $254,000
Capitalized software costs $330,000
Goodwill $116,000
Liabilities $(215,000)
Net assets $732,000
On June 1, Renn's accounts receivable had a fair value of $190,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $258,000. All other items were stated at their fair value. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill?
a. $330,000
b. $21,000
c. $95,000
d. $159,000