Company A purchases Company B. This is a 100% equity purchase which means that Company A acquires all of the Company B assets and assumes the liabilities of Company B.

Calculate the value of goodwill recognized in the acquisition. Round to the nearest whole dollar and do not include the dollar sign ($).

Assume

• the current market value of tangible physical assets is $864,000 (determined by Company A as at the acquisition date)
• the current market value of the only identifiable intangible asset (a customer list) is $200,000 (determined by Company A as at the acquisition date)
• Operating (non-Financial) liabilities have an appraised value of $240,000 before and after the acquisition.
• Financial Liabilities were appraised by company B to be valued at $600,000 immediately Beforethe acquisition.
• Financial Liabilities were appraised by Company A to be valued at $370,000 immediately Afterthe acquisition.
• There are no other assets or liabilities to consider than those presented above
• Company A paid $987,000 cash for Company B.