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The balance sheet of Cattleman's Steakhouse shows assets of $103,200 and liabilities of $29,000. The fair value of the assets is $111,000 and the fair

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The balance sheet of Cattleman's Steakhouse shows assets of $103,200 and liabilities of $29,000. The fair value of the assets is $111,000 and the fair value of its liabilities is $29,000. Longhorn paid Cattleman's $137,000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of: Multiple Choice O $55,000 O $26,000 $93,600. $38,600

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