Business, 26.02.2020 02:52, veneciaconton347

On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,200,000 in cash. The book values and fair values of Barney’s assets and liabilities were as follows:

Book Value Fair Value
Current assets $6,200,000 $7,700,000
Property, plant, and equipment 11,200,000 14,200,000
Other assets 1,020,000 1,520,000
Current liabilities 4,200,000 4,200,000
Long-term liabilities 6,200,000 5,700,000

Calculate the amount paid for goodwill.

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On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corpor...