Lake Incorporated purchased all of the outstanding stock of Huron Company paying $952,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were:

	Book Value	Fair Value
Current assets (net)	$131,400	$124,100
Property, plant, equip. (net)	613,000	755,000
Liabilities	150,700	176,000

Lake would record goodwill of:

Multiple Choice

• $358,300.

• $72,900.

• $248,900.

• $0.