Determining the Initial Value of Goodwill On April 1, 2020, Penn Corporation purchased all the assets and assumed all the liabilities of Suber Company for $70,000 cash. Suber's total identifiable asset values were as follows: Suber's book value, $100,000; estimated fair value, $115,000. Suber's total liabilities were $52,500 (fair value and book value). Required Calculate the amount of goodwill purchased by Penn Corporation on April 1, 2020. $ x