USA Advertising paid $210,000 to acquire Valley Tribune, a weekly advertising paper. At the time of the acquisition, Valley Tribune's balance sheet reported total assets of $70,000 and liabilities of $40,000. The fair market value of Valley Tribune's assets was $50,000. The fair market value of Valley Tribune's liabilities was $40,000. Read the requirements. Requirement 1. How much goodwill did USA Advertising purchase as part of the acquisition of Dequirements 3 nents 1. How much goodwill did USA Advertising purchase as part of the acquisition of Valley Tribune? 2. Journalize USA Advertising's acquisition of Valley Tribune