TX, Inc., dominates the snack-food industry with its Salty Chip brand. Assume that TX purchased Concord Snacks Company for $5.8 millia cash. The market value of Concord Snacks' assets is $8 million, and Concord Snacks has liabilities with a market value of $5.1 million. Read the requirements Requirement 1. Compute the cost of the goodwill purchased by TX. (Enter amounts in millions to the nearest tenth of a million as provided in the problem statement, X.X.) Less Cost of goodwill Requirement 2. Explain how TX will account for goodwill in future years In future years. TX, Inc., will determine whether the goodwill purchased has been impaired in value. If the goodwill's value has not been impaired If the goodwill's value has been impaired, The market value of Concord Snacks' assets is $8 million, and Concord Snacks has liabilities with a market value of the requirements quirement 1. Compute the cost of the goodwill purchased by TX. (Enter amounts in millions to the nearest tenth of a million as provie the problem statement, X.X.) Less Cost of goodwill Requirement 2. Explain how TX will account for goodwill in future years. In future years, TX, Inc., will determine whether the goodwill It purchased has been impaired in value. If the goodwill's value has not been impaired of the goodwill's value has been impaired, the company will record a gain and will increase the goodwill asset to market value. the company will record a loss and will write down the book value of goodwill there is nothing to record value has been impaired the company will record again and will increase the goodwill asset to market value the company will record a loss and wil write down the book value of goodwill there is nothing to record