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Exercise 7-6A Calculate the amount of goodwill (L07-2) Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $36,000,000 in cash.
Exercise 7-6A Calculate the amount of goodwill (L07-2) Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $36,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Fair Value $15,400,000 29,600, ee 5,000,000 8,400,000 13,600, Book Value $12,400, ee 23,600,e00 4,000,eee 8,400,000 14,600,000 Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).) Amount paid for goodwill million
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