Our company purchased all of the outstanding stock of another company, paying $2,700,000 cash. Our company assumed all of the liabilities of other company. Book values and fair values of acquired assets and liabilities were as follows.
|
Book Value |
Fair Value |
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|
Current assets, net |
$ 420,000 |
$ 450,000 |
|||
|
Property, plant and equpment, net |
$ 1,600,000 |
$ 2,250,000 |
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|
Liabilities |
$ 500,000 |
$ 600,000 |
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Our company would record goodwill of