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The balance sheet of Cattleman's Steakhouse shows assets of $108,000 and liabilities of $33,000. The fair value of the assets is $117,000 and the fair

The balance sheet of Cattleman's Steakhouse shows assets of $108,000 and liabilities of $33,000. The fair value of the assets is $117,000 and the fair value of its liabilities is $33,000. Longhorn paid Cattleman's $149,000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of Multiple Choice $65,000. $32,000 O $48.600 $113,600

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