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Lassonde Industries Inc. is a North American leader in the development, manufacture, and sale of innovative and distinctive lines of fruit and vegetable juices and
Lassonde Industries Inc. is a North American leader in the development, manufacture, and sale of innovative and distinctive lines of fruit and vegetable juices and drinks marketed under recognized brands such as Everfresh, Fairlee, Flavur, Fruite, Graves, Oasis, and Rougemont. The notes to the company's financial statements for 2011 indicate that it acquired the outstanding shares of Clement Pappas Company on August 12, 2011 The purchase price was $395, 287.000 and the fair market value of identifiable assets acquired and liabilities assumed are as follows (in thousands of dollars): Current assets $ 86, 169 Property, plant, and equipment 85, 200 Intangible assets 134, 146 Current liabilities (25, 453) Finance lease obligations (940) Required: 1. Compute the amount of goodwill resulting from the purchase. (Enter your answer in thousands of dollars.) Amount of goodwill 2. Assume that all the acquired long-lived assets have no residual value and that property, plant, and equipment have an estimated useful life of 10 years. The company does not amortize goodwill. Compute the adjustments that Lassonde Industries would make at the end of its fiscal year, December 31, 2012, for depreciation and amortization of all the long-lived assets it acquired. The intangible assets include four major categories that have different useful lives as follows (Enter your answer in thousands of dollars rounded to 2 decimal places.)
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