Goodwill

Marino Company had the following balance sheet on January 1, 2013:

Cash	10,000	Accounts Payable	30,000
Inventory	40,000	Notes Payable	100,000
Property, plant, and equipment	200,000
Patent	20,000	Shareholders' equity	140,000
	270,000		270,000

On January 2, 2013, Paul Company purchased Marino by acquiring all its outstanding shares for $300,000 cash. On that date, the fair value of the inventory was $30,000, and the fair value of the equipment was $240,000. In addition, the fair value of a previously unrecorded customer list was $25,000. For all other amounts, the book value of January 1, 2013, equaled fair value.

Compute the goodwill associated with the purchase of Marino.

$ ?????