Christian Company purchases Noah Company for $340 cash on January 1, 2021. The book value of Noah Company's net assets reported on its December 31, 2020 balance sheet was $290. Noah is a debt-free company, An analysis indicated that the fair value of Noah's tangible assets exceeded the book value by 548, and the fair value of identifiable intangible assets exceeded book value by 62. Required: What is the fair value of Noah's net assets? Write the joumal entry to record the purchase of Noah Company Account Debit Credit Cash 340