paid $230,000 to acquire Seacoast Report, a weekly advertising paper. At the time of the acquisition, Seacoast Report's balance sheet reported total assets of $90,000 and liabilities of $50,000. The fair market value of Seacoast Report's assets was $70,000. The fair market value of Seacoast Report's liabilities was $50,000.

TXL Publishing paid $230,000 to acquire Seacoast Report, a weekly advertising paper. At the time of the acquisition, Seacoast Report's balance sheet reported total assets of $90,000 and liabili of $50,000. The fair market value of Seacoast Report's assets was $70,000. The fair market value of Seacoast Reports liabilities was $50,000. Read the requirements. Requirement 1. How much goodwill did TXL Publishing purchase as part of the acquisition of Seacoast Report