on On 1/1/2020, Crescent Classic Company acquired 40% of the outstanding common stock of City Company for $600,000. Any excess of this purchase is classified as goodwill. This gave Crescent City Company the ability to significantly influence City Company. Net loss for City Company for 2020 is ($10,000) and they issued dividendo of $15,000. Record all journal entries for 2020. Additionally, indicate what goodwill is in the space indicated below. The following facts below for City Company as of 1/1/2020: Fair Value Carrying Amount Cash and AR $520,000 $520,000 Land $450,000 $450,000 Building (5 yr, useful life) remaining) $550,000 $500,000 Copyright (10 yr useful life) remaining) $400,000 $330,000 Liabilities ($1,000,000) ($1,000,000)