Chapter 10 Problem 4: Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $11,000,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $7,800,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Book Value Fair Value $1,300,000 $1,100,000 Property, plant, and equipment 8,000,000 9,400,000 200,000 1,200,000 Receivables Intangible assets Required: Calculate the amount paid for goodwill