On January 2 of Year! Tal Corporation purchased 100% of Short following information was available about the liabilities and stockholders' equity of Short Corporation. 14 Corporation At the time of the purchase, the Liabilities Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Stockholders' Equity $300,000 150,000 25,000 $1,055.000 The original purchase was for $150,000 more than the value of the net assets on Short's books. The excess was allocated as follows: Building Equipment Patent Goodwill 40,000 $35,000 20,000 55,000 150,000 20 years estimated life 10 years estimated life 5 years estimated life based on current FASB rule A. What was the purchase price that Tall Corporation paid for Short Corporation? Compute the amount of excess amortization that would be used ln arriving at consolidated totals for Year 1 and Year 2. B. On January 2 of Year! Tal Corporation purchased 100% of Short following information was available about the liabilities and stockholders' equity of Short Corporation. 14 Corporation At the time of the purchase, the Liabilities Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Stockholders' Equity $300,000 150,000 25,000 $1,055.000 The original purchase was for $150,000 more than the value of the net assets on Short's books. The excess was allocated as follows: Building Equipment Patent Goodwill 40,000 $35,000 20,000 55,000 150,000 20 years estimated life 10 years estimated life 5 years estimated life based on current FASB rule A. What was the purchase price that Tall Corporation paid for Short Corporation? Compute the amount of excess amortization that would be used ln arriving at consolidated totals for Year 1 and Year 2. B