Thank you

Lake Incorporated purchased all of the outstanding stock of Huron Company, paying $1080,000 cash. Like assumed all of the abilities Book values and for values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $130,000 $285, eee Property, plant, equip. (net) 695,000 810,000 Liabilities 255,000 255,000 Lake would record goodwill of Multiple Choice 550.000 $320000 Kansas Enterprises purchased equipment for 577500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $8,850 at the end of five years. Uslog the straight line method, depreciation expense for 2021 would be: Multiple Choice $11730 $12270 $31000 $15.500 Kansas Enterprises purchased equipment for $82.000 on January 1, 2021. The equipment is expected to have a five your service life with a residual value of $6,450 at the end of five years. Using the straight line method, the book value at December 31, 2021. would be: Multiple Choice $55,600 $60 440 366 890 $75,550