Astros Corporation purchased all of the outstanding stock of Houston Inc., paying $3,800,000 cash. Astros assumed all of the liabilities of Houston. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $ 270,000 $ 460,000 Property, plant, & equip. (net) 1,540,000 2,210,000 Liabilities 330,000 690,000 Astros would record goodwill of

Multiple Choice

• $6,200,000.

• $2,510,000.

• $360,000.

• $1,820,000.