Stringtown Company purchased Stansbury Island Manufacturing for $1,800,000 cash. The book value and fair value of the assets of Stansbury Island as of the date of the acquisition are listed below: Book Market Value Value Cas heer et ney acta acetates. on 8 Sires oko se Redes ee eee $ 30,000 $ 30,000 AAC COUMUSHFECEIVADIG teens ences tas aca tis. caerete moi eran ai oar tacts 300,000 300,000 AVEO Ny zectmtets coke ere te ee oe ae ee Baer eee nee eee EE 350,000 600,000 ROSEY, OEM EVN] LOWS a asia oe A eis oc eae ae oe 500,000 900,000 OtalS were 0.g aA ya Eide ek ee eh ae ee eet een en $1,180,000 $1,830,000 SSS I A In addition, Stansbury Island had liabilities totaling $400,000 at the time of the acquisition. 1. At what amounts will the individual assets of Stansbury Island be recorded on the books of Stringtown, the acquiring company? 2. How will Stringtown account for the liabilities of Stansbury Island? 3. How much goodwill will be recorded as part of this acquisition?