Points: 0 of 2 Vector Advertising paid $170,000 to acquire Seacoast Report, a weekly advertising paper. At the time of the acquisition, Seacoast Report's balance sheet reported total assets of $70,000 and liabilities of $40,000. The fair market value of Seacoast Report's assets was $50,000. The fair market value of Seacoast Report's liabilities was $40,000. Read the requirements. . . . Requirement 1. How much goodwill did Vector Advertising purchase as part of the acquisition of Seacoast Report? Purchase price to acquire Seacoast Report Market value of Seacoast Report's assets Less: Market value of Seacoast Report's liabilities Less: Market value of Seacoast Report's net assets Goodwill