Blue sky companys balance sheet dated 12/31/2020 reports 6 million And assets in 2.4 million in liabilities book values for all the firms assets, approximate their fair values except for land which has the book value that is 360,000 lower than its fair value on December 31 Horatio corporation pay 6.12 million to acquire blue sky as a result of the purchase, Horacio should record a Goodwill amount of.