On December 31, Year 1, Company A purchased 75% of Company Bs outstanding common shares for $150,000 in cash. On that date, the carrying amount of Company Bs assets and liabilities approximated their fair value, and the fair value of the noncontrolling interest (NCI) was $12,000. The following is the summarized balance sheet information for the two companies on December 31, Year 1, before the acquisition.

	Company A	Company B
Current assets	$200,000	$ 80,000
Noncurrent assets	320,000	140,000
Current liabilities	70,000	45,000
Noncurrent liabilities	110,000	55,000
Common stock	100,000	30,000
Retained earnings	90,000	70,000
Additional paid-in capital	150,000	20,000

Additional information:

- Company B reported net income of $60,000 for the year ended December 31, Year 2.

- On December 1, Year 2, Company B declared and distributed a cash dividend of $40,000 to its common shareholders.

- On November 15, Year 2, Company A declared and distributed a cash dividend of $25,000 to its common shareholders.

- Company A reported net income of $110,000 in its separate statements for the year ended December 31, Year 2.

- In its separate statements, Company A accounts for its investment in Company B using the equity method.

- During Year 2, no shares of common stock were issued and no items of other comprehensive income were recognized either by Company A or by Company B.

- No intraentity transactions occurred during Year 2.

Use the information above to determine the amount of goodwill or gain from bargain purchase recognized by Company A on the business combination date.