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Donald Co. purchases Ryan Co for 3,200,000 cash on jan 1 2015. The book value of Ryan Co's assets is 2480000 as of the Dec

Donald Co. purchases Ryan Co for 3,200,000 cash on jan 1 2015. The book value of Ryan Co's assets is 2480000 as of the Dec 31, 2014 balance sheet. An analysis by Donald co on Dec 31, 2014 indicates that the fair value of ryan co's identifiable assests exceeds the book value by 420000. how much goodwill should be recognized by Donald co when recording the purchase of ryan company.

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