On 1/1/2016, Company XXXX purchases 40% of the shares of Company ZZZZ for $ 300,000 cash. On this date, the assets and liabilities of Company ZZZZ have the following Yalues. Account Book value Fair value Cash 50,000 50,000 Accounts receivable (net) 30,000 30.000 Inventory 70,000 60,000 Buildings (net) 150,000 170,000 Equipment (net) 200.000 240,000 Land 140,000 150,000 Accounts payable 50,000 50,000 Notes payable 25,000 30,000 Additional information 2- All of the inventory was sold during 2016. b. The building has remaining expected useful life often years (starting from 1/1/2016) c. The equipment has remaining expected useful life of four years (starting from 1/1/2016) d. The notes payable will be paid equally over two years starting from 1/1/2016 On 1/4/2016, Company zzzz declared and paid cash dividends of S 7,000 f. The net income for Company Zzzz in 2016 was $ 60,000. Compute the full goodwill of ZZZZ Company on 1/1/2016. Your answer Provide the journal entry in company XXXX's books for the purchase on 1/1/2016. Your