Book Value Fair Value

Current assets $ $11,400,000$ $ $14,400,000$

Property, plant, and equipment $20,200,00026,200,000$

Other assets $3,400,0004,400,000$

Current liabilities $7,800,0007,800,000$

Long$-$term liabilities $13,200,00012,200,000$

Required:

Calculate the amount paid for goodwill.

Determine the financial statement effects of the acquisition.