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Required information [The following information applies to the questions displayed below.] The notes to a recent annual report from Suzie's Shoe Corporation indicated that the

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Required information [The following information applies to the questions displayed below.] The notes to a recent annual report from Suzie's Shoe Corporation indicated that the compary acquired another company. Steve's Shoes, Incorporated. Assume that Suzie's acquired Steve's Shoes on January 5 of the current year. Suzie's acquired the name of the company and all of its assets for $516,000 cash. Suzie's did not assume the liabilities. The transaction was closed on January 5 of the current year, at which time the balance sheet of Steve's Shoes reflected the following book values. An independent appraiser estimated the following market values for the assets. equired: Compute the amount of goodwill resulting from the purchase. (Hint: Assets are purchasedtat market value in conformity with the ost principle.)

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