Saw Help Save & E Ch 9 HW Che 7 14 Taste-T company has been in business for 30 years and has developed a large group of loyal restaurant customers. Down Home Foods made an offer to buy Taste- Company for $6.200,000. The market value of Taste-T's tangible assets, net of liabilities on the date of the offer is $5.700,000. Taste-Talso holds a patent for a fluting machine that the company invented the patent with a market value of $250,000 was never recorded by Taste-T because it was developed internally) Required: 1. How much has Down Home Foods included for intangibles in its offer of $6,200,000? 2. Assuming TasteT accepts this offer, which company will report Goodwill on its balance sheet and at what amount? Langtis Taste- Company Down Home Foods