Assume Caledon Company paid $19 million to acquire Bonita Industries. Assume further that Bonita had the following summarized data at the time of the Caledon acquisition (amounts in millions): (Click the icon to view the data.) Bonita's current assets had a current market value of $12 million, long-term assets had a current market value of only $22 million, and liabilities had a market value of $22 million. Read the requirements. Requirement 1. Compute the cost of goodwill purchased by Caledon Company. (Enter amounts in millions.) Cost of goodwill purchased: Millions Less: Cost of goodwill Data Table Requirements Bonita Industries Liabilities and Equity Assets 1. Compute the cost of goodwill purchased by Caledon Company. 2. Journalize Caledon's purchase of Bonita Industries. 3. Explain how Caledon will account for goodwill. Current assets $ 12 Total liabilities $ 22 15 Long-term assets 25 Stockholders' equity S 37 $ 37 Print Done Print Done