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Sol Donuts has 6 stores in Portland, Oregon and Seattle, Washington. It has been in business 10 years. Its local reputation for delicious donuts is
Sol Donuts has 6 stores in Portland, Oregon and Seattle, Washington. It has been in business 10 years. Its local reputation for delicious donuts is well recognized on the west coast. An international snack food company, Soare Inc. has offered to purchase Sol. Sol has $0.8 million of net assets at book value, but those net assets have a fair value of $1.1 million. If Soare offers to buy Sol for $2.0 million, how much will be recorded as goodwill based on the offered acquisition price? ENTER A NUMBER, NO $ NEEDED
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