Big Co. acquires Little Co in a transaction to be accounted for as a merger. Little Co. has the following trial balance information at the date of acquisition:

	Book value	Fair value
Cash	10,000	10,000
Inventory	18,000	20,000
PPE	400,000	300,000
Accumulated depreciation	(120,000)
Goodwill	50,000
Accounts payable	30,000	30,000
Common stock	100,000
Retained earnings	228,000

Big Co pays $350,000 in cash for the acquisition. In addition to the immediate cash payment, Big also agrees to additional cash payments if certain sales growth targets are met after 3 years. The sales growth targets, the payments, and the estimated likelihood of hitting those targets is as follows:

Sales growth	Payout	Estimated likelihood
0-3%	0	30%
3.01 - 6%	30,000	30%
6.01% - 9%	60,000	25%
9.01%+	100,000	15%

At the end of 3 years, actual sales growth came in at 5%

1.What were the total liabilities recorded in the acquisition entry? (xx,xxx)

2. How much goodwill was recorded as part of this purchase? (xx,xxx)

3. How much cash was paid out after 3 years? (xx,xxx)

4.How much of a gain or loss was there on the contingent liability? ("xx,xxx gain" or "xx,xxx loss")

Can you please explain in calculations?