ExpoCorp makes an acquisition of SimpleCorp, paying $13m. Immediately prior to the acquisition, SimpleCorp had the following assets and liabilities, at the following book values. Prepaid Rent: $2m, Trademarks: $1m, Patents: $0m, Salaries Payable: $1m, Notes Payable: $3m. Our internal valuation experts estimate that the fair value of SimpleCorpss Trademarks and Patents, respectively, are $4m and $3m. (And the fair value of all other identifiable assets and liabilities is the same as their book value.)

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