On December 31, 2015, Resolute Inc. (Resolute) purchased 100 percent of the common shares of Uno Ltd. (Uno) for $32,000,000. At the time of the purchase, Resolute’s management made the following estimates of the fair values of Uno’s assets and liabilities:

Required:
Calculate the amount of goodwill that Resolute would report on its December 31, 2015 consolidated balance sheet as a result of its purchase of Uno.

Transcribed Image Text:

Assets Liabilities $47,000,000 18,000,000