Assume Raltron Company paid $17 million to acquire Birthright Industries. Assume further that Birthright had the following summarized data at the time of the Raltron acquisition (amounts in millions): (Click the icon to view the data.) Birthright's current assets had a current market value of $16 million, long-term assets had a current market value of only $23 million, and liabilities had a market value of $27 million. Read the requirements. Requirement 1. Compute the cost of goodwill purchased by Raltron Company. (Enter amounts in million Data table Cost of goodwill purchased: Millions Less: Cost of goodwill Requirements 1. Compute the cost of goodwill purchased by Raltron Company. 2. Journalize Raltron's purchase of Birthright Industries. 3. Explain how Raltron will account for goodwill. Birthright Industries Assets Liabilities and Equity Current assets $ 16 Total liabilities $ 27 Long-term assets 28 Stockholders' equity 17 $ 44 $ 44 Print Done