fair market value of Tri Town Daily's assets was $$100,000.$ The fair market value of Tri Town Daily's liabilities was $$70,000.$

Read the requirements.

Requirement $1.$ How much goodwill did AM Publishing purchase as part of the acquisition of Tri Town Daily?

Purchase price to acquire Tri Town Daily

$100,000$

Market value of Tri Town Daily's assets

$70,000$

Less: Market value of Tri Town Daily's liabilities

Less: Market value of Tri Town Daily's net assets

Goodwill