Dewey Cheatem Company acquires $KYZ Inc. for $5 million based on $XYZs annual net income x 2.5. The fair value of $KYZ's assets is $2 million and its liabilities are $1 million. 1. Record this transaction in formal journal entry format. Dewey Cheatem Co. is a privately held company and has decided to amortize goodwill over the next 10 years. 2. Create a schedule showing the amortization over the life of the goodwill