Company S has no long-term marketable securities. Assume the following scenarios:

Case A

Assume that P Company paid $137,820 cash for 100% of the net assets of S Company.

S COMPANY

Assets

Current Assets

Long-lived Assets

Liabilities

Net Assets

Book Value

$14,190$81,910$20,340$75,760Fair Value

19,260142,60028,460133,400

Case B

Assume that P Company paid $110,640 cash for 100% of the net assets of S Company.

S COMPANY

Assets

Current Assets

Long-lived Assets

Liabilities

Net Assets

Book Value

$14,190$81,910$20,340$75,760Fair Value

30,19072,87018,87084,190

Case C

Assume that P Company paid $14,270 cash for 100% of the net assets of S Company.

S COMPANY

Assets

Current Assets

Long-lived Assets

Liabilities

Net Assets

Book Value

$14,190$81,910$20,340$75,760Fair Value

21,20037,41042,22016,390

Complete the following schedule by listing the amount that would be recorded on P's books.

Good will Current Assets Long-lived Assets Liabilities Retained earning

Case A

Case B

Case C