Lake Incorporated purchased all of the outstanding stock of Huron Company paying $956,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value $130,100 $124,900 613,000752,000 151,000 176,000 Current assets (net) Property, plant, equip. (net Lake would record goodwill of Multiple Choke $363,900 $255100 79100 Help Save&Exit Submit Property, plant, equip. (net) 613,000 Liabilities 752,000 151,000 176,000 Lake would record goodwill of Mutiple Choice $363,900 $255100 $79100 s0