mework On June 1, Cline Co. paid $1,098,500 cash for all of the issued and outstanding common stock of Renn Corp The carying amounts for Renn's assets and liabilities on June 1 follow Cash Accounts receivable Capitalized software costs Goodwil1 Liabilities Net assets 223,000 232,500 362,000 182,000 (137,000) $862,500 On June 1, Renn's accounts recelvable had a fair value of $189,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $288,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill? Multiple Choice $52,000. Prev 6 of 10l Next >