Hubert purchases Fran's jewelry store for $975,000. The identifiable assets of the business are as follows. Hubert and Fran agree that $125,000 should be assigned to a five year covenant not to compete. REQUIRED: Using the attached form, prepare a schedule that shows how the purchase price should be allocated to the assets. Show appropriate supporting calculations. Round your answers to the nearest whole dollar. ALLOCATION OF PURCHASE PRICE FOR TAXPAYER HUBERT'S \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ PURCHASE OF FRAN'S JEWELRY STORE } \\ \hline Purchase Price & & \\ \hline Less Fair Market Value of Identifiable Assets: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Fair Market Value of Identifiable Assets & & \\ \hline Remaining Amount To Allocate & & \\ \hline Less Amount Allocated to Other Unrecorded Assets: & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}