Patton has acqured several other companies. Assume that Pallon purchased Kette for $12,000,000 cash The book value of Kotte's assets is $13,000,000 (market value, $17,000,000 ), and it has iabities of $16,000,000 (mathet value, $16,000,000 ) Requirements 1. Compute the cost of goodwill purchased by Patton. 2. Record the purchase of Ketlie by Patton. deblit fint then creds. Select the explanason on the last line of the fournal entry table) Caselts paid $6,000,000 for oil reserves holiding an entimuted 1,000,000 barrels of eil. Recond the poyment for the ol reserves Do not record payment for any additional costs associsted with the oli reserves (geological tenting andior driling). We will do this in the foliowing entry. Record the payment for adssonal peological lests of the propenty and for preparing the propenty for dilling (Record a angle compound joumal entry) Durng the frot year, Casela removed and sold 60.000 barreis of oil Record the depletion expense for the first yea. (Astume no residual value. Round inserm calculations to the nearest cent and your final answers bo the nearest whole dolar)