This is what i have

Consideration transferred at fair value: 1,089,000

Book value:

Excess fair over book value:

Allocation of excess fair value to specific assets and liabilities:

to computer software:110,000

to equipment:(22,000)

to client contracts:220,000

to in-process research and development:88,000

to notes payable:(11,000)

Goodwill

How do I find Book Value? I need this to find the excess and find goodwill?

Penn Company acquired all of Southern, Inc.'s outstanding shares on December 31, 2018, for $1,089,000 cash. Penn will operate Southern as a wholly owned subsidiary with a separate legal and accounting identity. Although many of Southern's book values approximate fair values, several of its accounts have fair values that differ from book values. In addition, Southern has internally developed assets that remain unrecorded on its books.

In deriving the acquisition price, Penn assessed Southern's fair and book value differences as follows:

Book Values

Fair Values

Computer software

$ 44,000

$154,000

Equipment

88,000

66,000

Client contracts

-0-

220,000

In-process research and development

-0-

88,000

Notes payable

(132,000)

(143,000)

At December 31, 2018, the following financial information is available for consolidation:

Penn

Southern

Cash

$79,200

$39,600

Receivables

255,200

111,100

Inventory

308,000

198,000

Investment in Spider

1,089,000

-0-

Computer software

462,000

44,000

Buildings (net)

1,309,000

286,000

Equipment (net).

677,600

88,000

Client contracts

-0-

-0-

Goodwill

-0-

-0-

Total assets

$4,180,000

$770,000

Accounts payable

$(193,600)

$(55,000)

Notes payable

(1,122,000)

(132,000)

Common stock

(836,000)

(220,000)

Additional paid-in capital

(374,000)

(55,000)

Retained earnings

(1,654,400)

(308,000)

Total liabilities and equities

$(4,180,000)

$(770,000)