Kasper Corporation acquired all outstanding shares of Paddy Ltd. for $4.2 million. Selected information relating to Paddy was as follows: Fair value of identifiable net assets: $4.0 million Book value of identifiable net assets: $3.1 million Cash balance: $0.1 million Kasper will recognize goodwill of $1.1 million $0.2 million $4.1 million $3.0 million