Assume Raltron Company paid $19 million to acquire Barnes Industries. Assume further that Barnes had the following summarized data at the time of the R (Click the icon to view the data) Barnes's current assets had a current market value of 511 million, long-term assets had a current market value of only $26 million, and liabilities had a mark Read the requirements Requirement 1. Compute the cost of goodwill purchased by Raltron Company (Enter amounts in millions.) Cost of goodwill purchased: Millions Less Cost of goodwill Requirement 2. Journalize Raltron's purchase of Barnes Industries (Record debits first, then credits Exclude explanations from any Journal entries Enter an Journal Entry Accounts Debit Credit Millions Requirement 3. Explain how Raltron will account for goodwil Each year. Ration will determine whether the goodwill that Raltron purchased has been impaired in value. If the goodwill's value has not been impaired, abilities had a market value of $35 million DECE joumal entries. Enter amounts in millions as provided to you in the problem statement.) as not been impaired If the goodwill's value has been impaired Data Table - X Barnes Industries Assets Liabilities and Equity Current assets GA 11 Total liabilities 35 Long-term assets 27 3 Stockholders' equity 38 $ $ 38 Print Done od