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What the lake would record goodwill of

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Point 1: Lake Incorporated purchased all of the outstanding stock of Huron Company paying $963,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were:

                                             Book Value                    Fair Value

Current assets (net)           $ 130,400                $ 124,400

Property, plant, equip. (net)   604,000                  762,000

Liabilities                            151,900                   177,000

Question 1: What the Lake would record goodwill of?

Reference no: EM132481408

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