Lake Incorporated purchased all of the outstanding stock of Huron Company, paying $1.050,000 cash. Lake assumed all of the Mobilities. Book values and fair values of acquired assets and liabilities were: Current assets (net) Property, plant, equip. (net) Liabilities Book Value Pair Value $130,000 $175,000 625,000 835,000 270,000 270,000 Lake would record goodwill of Multiple Choice $413,000 5565.000 $310,000 SO