1 Cash Marino Company Balance Sheet January 1, 2019 $20,000.00 Accounts payable 30,000.00 Notes payable 200,000.00 20,000.00 Shareholders equity $270,000.00 2 Inventory 3. Property, plant, and equipment 4 Patent 5 Marino Company Balance Sheet January 1, 2019 $20,000.00 Accounts payable 30,000.00 Notes payable 200,000.00 20,000.00 Shareholders' equity $30,000.00 150,000.00 90,000.00 $270,000.00 $270,000.00 on January 1, 2019, Paul Company purchased Marino by acquiring all its outstanding shares for $300,000 cash. On that date, the fair value of the in was $10,000, and the fair value of the equipment was $230,000. In addition, the fair value of a previously unrecorded customer list was $25,000. For other amounts, the book value of January 1, 2019, equaled fair value. Required: 1. Compute the goodwill associated with the purchase of Marino 2. Prepare the journal entry necessary on January 1, 2019, to record the acquisition of Marina