The notes to a recent annual report from Suzie's Shoe Corporation indicated that the company acquired another company, Steve's Shoes, Inc. Assume that Suzie's acquired Steve's Shoes on January 5 of the current year. Suzie's acquired the name of the company and all of its assets for $512,000 cash. Suzie's did not assume the liabilities. The transaction was closed on January 5 of the current year, at which time the balance sheet of Steve's Shoes reflected the following book values. An independent appraiser estimated the following market values for the assets. Steve's Shoes, Inc. January 5 of the Current Year Book Value Accounts receivable (net) $ 43,000 Inventory 223,000 Fixed assets (net) 33,000 Other assets 7,000 Total assets $306,000 Liabilities $ 59,000 Stockholders' equity 247,000 Total liabilities and stockholders' equity $306,000 Market Value $ 43,000 189,000 24,800 14,000 Required: 1. Compute the amount of goodwill resulting from the purchase. (Hint: Assets are purchased at market value in conformity with the cost principle.)