Patterson Company 31-Dec-20 (thousands) Liabilities and Equity Assets (thousands) $ Cash Accouts receivable Inventories Other current assets total current assets 8,000 10,000 8,500 1,500 28,000 Line of credit Accounts payable Other current liabilities total current liabilities $4,500 11,500 4,000 20,000 Other long term libilities Long term debt total long term liabilities 2,500 14,500 17,000 Land Buildings Equipment total plant, property & equip 3,000 12,000 8,000 23,000 Common stock, no par value Retained earnings total equity Total Other long term assets Total 3,500 12,500 16,000 53,000 2,000 53,000 $ $ On January 1, 2021, XYZ Company purchased Patterson for $40 million. As a pat of the acquisition, the following was noted: The carrying value of the assets and liabilites were the same as fair value except for the following: Inventory fair value should be $10 million Buildings fair value should be higher by $3 million A patent is acruired that is valued at $1 million The Patterson trade name is acquired for $5 million What is the limited life intangible asset? What is the indefinite life intangible asset? What is the goodwill for this transaction