in 2016, Plummer corporation acquired the net assets of singer company. the purchase price was $85 million. plummer's annual reports for 2016 and 2017 provide the following information ( in millions)

	2016	changes	2017
Net assets acquired
cash and receivable	$10	$__	$10
inventories	70	(5)	65
plant and equipment, net	120	(30)	90
identifiable intangible assets	35	6	41
Goodwill	500	34	534
current liabilities	(50)	__	(50)
long-term liabilities	(600)	(10)	(610)
Acquisition cost	$85	$(5)	$80