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Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Incorporated (BLI). As part of their discussions with the sole shareholder

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Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Incorporated (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: Note: Leave no onswer blank. Enter zero if opplicable. Negotive omounts should be indicated by a minus sign. * The mortgage is attached to the building and land. Ernesto was asking for $460,000 for the company His tax basis in the 8L.I stock was $140,000. Included in the sales price was an unrecognized customer list valued at $140,000. The unallocated portion of the purchase price ($112,000) will be recorded as coodwill

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