8 Lake Incorporated purchased all of the outstanding stock of Huron Company paying $954.000 cash Lake assumed all of the liabilities of Huron Book values and fair values of acquired assets and liabilities were: Current assets (net) Property, plant, equip. (net) Liabilities Book Value Fair Value $131,900 $123,400 603,000 750,000 151,600 176,000 Lake would record goodwill of Multiple Choice $0 $256.600