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Assume Haledan Company paid $18 million to acquire Barnes Industries. Assume further that Barnes had the following summarized data at the time of the Haledan
Assume Haledan Company paid $18 million to acquire Barnes Industries. Assume further that Barnes had the following summarized data at the time of the Haledan acquisition (amounts in millions): Click the icon to view the data.) Barnes's current assets had a current market value of $12 million, long-term assets had a current market value of only $24 million, and liabilities had a market value of $26 million. Read the requirements. Requirement 1. Compute the cost of goodwill purchased by Haledan Company. (Enter amounts in millions.) Cost of goodwill purchased: Millions Less: Cost of goodwill Data Table Barnes Industries Assets Liabilities and Equity Current assets........$ 12 Total liabilities..........$ Long-term assets .....- ........ 27 Stockholders' equity...... $ 39 $ 26 Print Print Done]
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