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As of December 31, 20X4, Blue Co.s statement of financial position shows the book values of $15,000,000 for total assets and $12,000,000 for total liabilities.
As of December 31, 20X4, Blue Co.s statement of financial position shows the book values of $15,000,000 for total assets and $12,000,000 for total liabilities. Also on December 31, 20X4, an appraisal shows the fair values of $18,500,000 for total assets and $14,000,000 for total liabilities. Green Co. purchased all of the net assets of Blue Co. on December 31, 20X4 for $5,500,000. What amount of goodwill, if any, did Green Co. record on the acquisition date?
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