Romstead, Corp. aggressively acquires other companios Assume that Rometead, Corp, purchased Lucas, Inc., for $2.650,000 cash. The market value of Lucas's assels is $2,700,000, and it has latdies with a market valus of $400,000. Read the Eequirements Requirement 1. Compute the cost of goodwill purchased by Romstead, Corp. Cost of goodwil purchased Purchase price paid for Lucas, Ind 2.050,000 Less: Market value of Lucas net assets Market value of Lucas net assets 2.700.000 Less Lucas labildios Purchase price paid for Lucas, Inc Cost of goodwill purchased Requirement 2. Record the purchase of Lucas, Inc., by Romstead, Corp. (Record debits frst, then aredts. Exclude explanaticn rom any journal entry) Journal Entry Date Accounts Debit Credit Assets (Cash, Receivables, Inventories, Plant assels) Goodwill Liabilitios Cash in the input fields and then continue to the next question. Read the requirements. Requirement 1. Compute the cost of goodwill purchased by Romstea Cost of goodwill purchased: 2P Lucas liabilities Market value of Lucas assets Market value of Lucas net assets Purchase price paid for Lucas, Inc Cost of goodwill purchased Requirement 2. Record the purchase of Lucas, Inc., by Romstead, C Journal Entry Accounts