Bluth, Inc., purchased 100% of the common shares of Horten for $280,000 on January 1, 20X7. Horten's balance sheet just before the acquisition was as follows ($ in thousands):

BALANCE SHEET: Cash $100 Net fixed assets $ 190 Total assets $290 Liabilities $200 Stockholders' equity $90 Total L&SE $290

Requirement 1: Compute the amount of goodwill Bluth would recognize on this purchase. Where would this goodwill appear on Bluth's financial statements?

Requirement 2: Bluth's 20X7 net income from all operations excluding those of Horten was $140,000. Horten had a net loss of $9,000. Assume there were no intercompany transactions. Compute consolidated net income for 20X7.

Requirement 3: Repeat requirement 2 assuming Bluth concluded goodwill was impaired by $15,000.

Requirement 4: How much goodwill appears on the consolidated balance sheet after requirement 3?