1 Company A buys Company B for $756,000. These companies have the following information. Company A Company B Fair value of assets 1,100,000 860,000 Fair value of liabilities 874,000 246,000 Reported assets 950,000 570,000 Reported liabilities 845,000 210,000 Net income for the year 579,000 472,000 How much goodwill did Company A gain from acquiring Company B? Question 2 A company sells products to customers with warranty. Usually, 5% of its products need repair under warranty. In 2022, the company sold 3,000 products and 60 was repaired. The estimated cost to repair a product is $150. What would be the Warranty Liability at the end of 2022