Q-2: (Chapter-9): A9-22: Goodwill: During 20X4, the Pencil Corp. entered into negotiations to buy Stilo Company, finally agreeing on a final cash purchase price of $534,000. Pencil will acquire all assets and liabilities of Stilo effective 31 December 20X4, except for the existing cash balances of Stilo. The 31 December 204 balance sheet prepared by Stilo is shown below in column (a), and the revised fair values added later by Pencil are shown in column (b). Issigned by Pencil Corp. Required (10 Marks): 1. Compute the amount of goodwill purchased by Pencil. 2. Give the entry for Pencil to record the purchase of Stilo