The trial balance for the Hungry Horse Company follows: 5 Click the icon to view the trial balance.) Assume that MJG, Inc. offers to acquire Hungry Horse at a purchase price of $662,000. A stua undervalued by $53,000. Read the fequirements Requirement a. Given this set of assumptions, calculate the amount of goodwill or bargain purc Acquisition cost Less: Fair value of identifiable net assets 662,000 444,000 218,000 Goodwill Horse market Data table calculat Credit $ $ Description Cash Inventory Property, plant, and equipment - Net Current liabilities Common stock - No par Retained earnings Debit 31,000 105,000 365,000 57,000 155,000 289,000 $ 501,000 $ 501,000 Totals Print Done Requirements ulat $ a. b. Given this set of assumptions, calculate the amount of goodwill or bargain purchase gain to be recorded on the acquisition. Assume now that MJG, Inc. offers to acquire Hungry Horse at a purchase price of $327,000. Determine the amount of goodwill or bargain purchase gain. Indicate how to account for goodwill and any gain from a bargain purchase in the financial statements. c. Print Done npany follows: ngry Horse at a purchase price of $662,000 A study of Hungry Horse's assets revealed that the inventory had a fair market value of $185,000 and the plant assets were Lions, calculate the amount of goodwill or bargain purchase gain to be recorded on the acquisition 662,000 sets 444,000 218,000