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Exercise 2-9 Company S has no long-term marketable securities. Assume the following scenarios: Case A Assume that P Company paid $128,180 cash for 100% of the net assets of S Company. S COMPANY Assets Long-lived Assets $87,960 131,140 Current Assets $14,520 19,110 Book Value Fair Value Liabilities $19,610 28,890 Net Assets $82,870 121,360 Case B Assume that P Company paid $100,370 cash for 100% of the net assets of S Company. S COMPANY Assets Current Assets Long-lived Assets Liabilities Net Assets Book Value $14,520 $87,960 $19,610 $82,870 Fair Value 28,260 81,010 20,020 89,250 Case C Assume that P Company paid $13,510 cash for 100% of the net assets of S Company. S COMPANY Assets Long-lived Assets $87,960 43,200 Current Assets $14,520 19,710 Book Value Fair Value Liabilities $19,610 38,220 Net Assets $82,870 24,690 Complete the following schedule by listing the amount that would be recorded on P's books. Assets Current Assets Retained Earnings (Gain) Goodwill Long-lived Assets Liabilities Case A $ $ Case B Case C