K Mason Company exchanges $166,500 (market value) of its no-par value common stock to acquire 100% of the common stock of Shunda Company. (Click the icon to view additional information.) What is the fair value of the identifiable net assets Mason acquires from Shunda? What is the amount of goodwill on Mason's acquisition of Shunda? What is the journal entry to record Mason Company's purchase of Shunda Company? Determine the fair value of the identifiable net assets Mason acquires from Shunda. The fair value of the identifiable net assets Mason acquires is equal to - X st More info Shunda Company reports total assets of $518,000 consisting of $45,000 cash, $163,000 inventory, and a $310,000 factory building. Shunda Company reports liabilities of $427,000 consisting of $184,000 accounts payable and $243,000 long-term debt. Therefore, the historical cost of the net assets acquired is equal to $91,000 ($518,000-$427,000). An appraisal of Shunda Company's assets and liabilities indicated that Shunda Company's factory building, part of its PPE, is undervalued by $45,500. The book values of all other assets and liabilities approximate their fair values. to acquire 100% is the amount of urchase of Shune