AM Publishing paid $190.000 to acquire Red River Herald, a weekly advertising paper. At the time of the acquisition Red River Herald's balance sheet reported total assets of $90.000 and liabilities of $50,000. The fair market value of Red River Herald's assets was $70,000. The fair market value of Red River Heralds liabilities was $50,000 Read the requirements Requirement 1. How much goodwill did AM Publishing purchase as part of the acquisition of Red River Herald Purchase price to acquire Red River Herald Market value of Red River Herald's assets Less Market value of Red River Herald's abilities Les Market value of Red River Hotels met assets Goodwill