Goodwill Mills Company is contidering purchasing EKC Company, EKC's balance sheet at December 31, 2019, is as follows: Cash $56,000 Current liabilities $58,000 Accounts receivable 79,000 Bonds payable 236,000 Inventory 120,000 Common stock 290,000 Property, plant, and equipment (net) 630,000 Retained earnings 301.000 $885,000 $885,000 At December 31, 2019, Mill discovered the following about EKC a. No allowance for uncollectible accounts has been established. An allowance of $5,100 is considered appropriate. b. The uro inventory method has been used. The FIFO inventory method would be used if eKc were purchased by Mills. The FIFO Inventary valuation of the December 31, 2019, ending inventory would be $175,000 c. The fair value of the property, plant, and equipment (net) is $760,000 d. The company has an unrecorded patent that is worth $100,000 e. The book values of the current abilities and bonds payable are the same as their market values Required: 1. Compute the value of the goodwill Mills pays $1,365,900 for KC 2. Next Level Why would the book value of a company's identifiable net assets differ from its market value