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Exercise 10-6 (Algo) Goodwill [LO10-1) On March 31, 2021. Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,400,000 in cash.

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Exercise 10-6 (Algo) Goodwill [LO10-1) On March 31, 2021. Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,400,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Book Value Fair Value Current assets $ 6,490,000 $ 7,900,000 Property, plant, and equipment 11,400,000 14,400,000 Other assets 1,040,000 1,540,000 Current liabilities 4,400,000 4,400,000 Long-tern Liabilities 6,400,000 5,900,000 Required: Calculate the amount paid for goodwill Good

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