Assume Calway Company paid $23 million to acquire Bourne Industries Astume further that Boume had the following summarized data of the line of the Caway acquisition amous in million) m (Cick the icon to view the data) Boumo's current method a current market value of 50 milion long-term stets had a current market value of only $16 milion, and abilities had a market value of $24 milion Read the requirements Requirement 1. Compute the cost of goodwill purchased by Calway Company (Enter amounts in millions) Cost of goodwill purchased Million Loss Cost of goodwil Requirement 2. Journale Calway's purchase of Boume Industries Record debits first, then credits Exclude explanations from any journal entries Enter amounts in milions as provided to you in the probl Journal Entry Accounts Debit Credit Millions Hequirement. Ehwal wil out for good Les yeur Culway wildumine whether the goodwie purchased as compare the goodwrotere goodwi's was being Next - x Data Table X Bourne Industries Assets Current assets $ $ 24 Liabilities and Equity 9 Total liabilities 24 Stockholders' equity 33 $ 9 Long-term assets $ 33 blior Print Done - X Requirements 1. Compute the cost of goodwill purchased by Calway Company. 2. Journalize Calway's purchase of Bourne Industries. 3. Explain how Calway will account for goodwill. Print Done