The Marino Company had the following balance sheet on January 1, 2007:

On January 2, 2007 the Paul Company purchased the Marino Company by acquiring all its outstanding shares for $300,000 cash. On that date the fair value of the current assets was $40,000, and the fair value of the property, plant, and equipment was $240,000. In addition, the fair value of a previously unrecorded intangible asset was $25,000.

Required
Compute the goodwill associated with the purchase of the MarinoCompany.

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Current assets Property, plant, and equipment Intangible assets S 50,000 200,000 s 30,000 100,000 20,000 Stockholders' equity 140.000 $270,000 Current liabilities Noncurrent liabilities $270,000