Lake Incorporated purchased all of the outstanding stock of Huron Company paying $955,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were: Current assets (net)) Property, plant, equip. (net) Liabilities Lake would record goodwill of Multiple Choice $0. $255,600. $367600 Book Value $130,300 Fair Value 608,000 $123,400 751,000 150,800 175,000