6 New Harvest Bakery acquired all the outstanding common stock of Red Rock Bakery for $74,500 in cash. The book values and fair values of Red Rock's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Owner's Equity Required: Calculate the amount paid for goodwill. Goodwill Book Value $ 27,800 46,900 4,000 16,800 20,000 125,000 Fair Value $ 25,300 50,600 5,500 13,100 21,100

New Harvest Bakery acquired all the outstanding common stock of Red Rock Bakery for $74,500 in casi). The book values and fatr values of Red Rock's assets and liabilities were as follows: Required: Calculate the amount paid for goodwill