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The balance sheet of Cattleman's Steakhouse shows assets of $86,000 and liabilitles of $15,100. The fair value of the assets is $89,900 and the fair

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The balance sheet of Cattleman's Steakhouse shows assets of $86,000 and liabilitles of $15,100. The fair value of the assets is $89,900 and the fair value of its liabilities is $15,100. Longhorn paid Cattleman's $83,220 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of Multiple Choice $12,320 $8.420 O $4100 $2.780

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