Exercise 10-6 (Algo) Goodwill (LO10-1] On March 31, 2024, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,700,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Book Value $6,700,000 Fair Value $8,200,000 Current assets Property, plant, and equipment Other assets Current liabilities Long-term Liabilities Required: Calculate the amount paid for goodwill. Goodwill 11,700,000 14,700,000 1,070,000 1,570,000 4,700,000 4,700,000 6,700,000 6,200,000