Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. (BLI). As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows Adjusted Basis FMV Appreciation Cash Receivables Building Land Total $ 17,000 17,000 24,600 70,500 81,750 $427,850 $193,850 24,600 141,000 245,250 70,500 163,500 $234,000 Payables Mortgage* Total $ 26,600 26,600 155,250 $181,850 $181,850 155,250 The mortgage is attached to the building and land Ernesto was asking for $458,750 for the company. His tax basis in the BLI stock was $153,000. Included in the sales price was an unrecognized customer list valued at $127,000. The unallocated portion of the purchase price ($85,750) will be recorded as goodwill. (Negative amounts should be indicated by a minus sign.)