full question

Webber Ltd. purchased the net assets of Sitter Inc. in January 2020 for $9,390,000. Appraisals indicated that the fair values of the assets purchased and liabilities assumed were as follows: Inventory $1,009,000 Land Accounts receivable 570,000 Patents 71,000 Accoun Prepaid expenses Equipment 1,857,000 Warran Building 1,667,000 Bank lo The patent acquired has 10 years remaining in its useful life, but Webber's management determined that it would contribute to the generation of revenues for 8 years, after which it would be obsolete. (a) * Your answer is incorrect. Determine the amount of goodwill Webber acquired in the purchase. Current Attempt in Progress Using the following a bridged financial data for CCC Corp., calculate the company's fixed asset turnover for the past 3 years and indicate whether it has improved or deteriorated. 2021 Property, plant, and equipment (net) Sales revenue 2022 2020 $1,239,000 $1,107,000 $1,033,000 $1,865,070 $1,936,700 $2,144,910 Property, plant, and equipment (net) for 2019 = $981,000. (Round answers to 2 decimal places, e.g. 15.75.) 2022 2021 2020 Fixed asset turnover times times times Fixed asset turnover is e Textbook and Media Webber Ltd. purchased the net assets of Sitter Inc. in January 2020 for $9,390,000. Appraisals indicated that the fair values of the assets purchased and liabilities assumed were as follows: Inventory Accounts receivable Prepaid expenses Equipment Building $1,009,000 570,000 71,000 1,857,000 1,667,000 Land Patents Accounts payable Warranty provision Bank loan payable $1,743,000 1,286,000 645,000 478,000 1,926,000 The patent acquired has 10 years remaining in its useful life, but Webber's management determined that it would contribute to the generation of revenues for 8 years, after which it would be obsolete. (a) Determine the amount of goodwill Webber acquired in the purchase. Goodwill $Enter a dollar amount of goodwill. eTextbook and Media List of Accounts