Yummy Snacks, Inc., dominates the snack-food industry with its Salty Chip brand. Assume that Yummy Snacks, Inc., purchased Red River Chips, Inc., for $5.4 million cash. The market Red River Chips has liabilities with a market value of $6.1 million Requirements 1. Compute the cost of the goodwill purchased by Yummy Snacks. 2. Explain how Yummy Snacks will account for goodwill in future years, Requirement 1. Compute the cost of the goodwill purchased by Yummy Snacks. (Enter amounts in millions to the nearest tenth of a million as provided in the problem statement, XX) Market value of Red River Chips' net assets: Less: Cost of goodwill Requirement 2. Explain how Yummy Snacks will account for goodwill in future years. In future years. Yummy Snacks, Inc., will determine whether the goodwill it purchased has been impaired in value. If the goodwil's value has not been impaired, if the goodwill's value has been impaired, Yummy Snacks, Inc., dominates the snack food industry win is Saly Chip brand. Assume that Yummy Snacks, Inc. purchased Red River Chips, Inc, for $5 million cash. The market value of Red River Chips' asets is $milion, and Requirements 1. Compute the cost of the goodwill purchased by Yummy Snacks 2. Explain how Yummy Snacks will account for goodwil in future years Requirement 1. Compute the cost of the goodwill purchased by Yummy Bracks. (Enter amounts in milions to the nearest tenth of a millions provided in the problem statement. XX) Market value of Red River Chips' nesses Cost of good Requirement 2. Explain how Yummy Snacks will account for goodwil in future years In future yours. Yummy Snacks, Inc. wil determine whether the goodwill it purchased has been impaired in value. If the goodwill value has not been impared of the goodwill value has been impaired