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Q17. Below is the December 31 balance sheet for a small, local flower shop called Lopez's Flowers. On that same date, a large national flower

Q17. Below is the December 31 balance sheet for a small, local flower shop called Lopez's Flowers. On that same date, a large national flower business called FTD purchased Lopez's Flowers for $25,000. How much goodwill (if any) will be recognized by FTD as a result of this purchase? If your answer is 0, please enter 0 with no dollar signs.

Assets Liabilities SHE
Cash 10,000 Accts Pay 11,000 Retained Earnings 13,000
Accts Rec 19,000 Wages Pay 22,000 Common Stock 2,000
Inventory 23,000 Notes Pay 21,000 APIC 4,000
Equipment 15,000 Treasury Stock (6,000)
TOTALS 67,000 54,000 13,000

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