On January 1, 2018, Chester Inc. acquires 100% of Festus Corp.'s outstanding common stock by exchanging 37,500 shares of Chester's $2 par value common voting stock. On January 1, 2018, Chester's voting common stock had a fair value of $40 per share. Festus' voting common shares were selling for $6.50 per share. Festus' balances on the acquisition date, just prior to acquisition are listed below.

Book Value Fair Value

Cash	$ 30,000
Accounts Receivable	120,000	$ 120,000
Inventory	200,000	230,000
Land	230,000	290,000
Building (net)	450,000	600,000
Equipment (net)	175,000	160,000
Accounts Payable	(80,000)	(80,000)
Common Stock $1 par	(500,000)
Paid-in Capital	(350,000)
Retained Earnings 1/1/18	(275,000)

Q1 What Kind of combination is the purchase of Festus by Chester?

Q2 What is the amount of Consideration?

Q3 What is the Fair Value of Festus Corp Assets?

Q4 Does the combination or purchase of Festus created Goodwill or a Bargain Gain?

Q5 Compute amount of Goodwill or bargain Gain.