Company Limited purchased S Limited for the purchase consideration of:

Cash	$11 per S Ltds share
Shares in M Company Limited	20000 shares with market value of $12
Non-current asset	Carrying Value $30000 Fair Value $49000

M Company Limited incurred legal fees of $9000 to complete the acquisition.

S Limited had the following assets and liabilities at the time of purchase:

	Carrying amount ($)	Recoverable amount ($)	Fair value ($)
Assets
Land	454000	488000	504000
Machinery	317000	359000	385000
Inventory	310000	286000	364000
Cash	159000
Liabilities
Loan	386000
Share Capital (92000 shares)	854000

Calculate and enter the amount of goodwill