Peregrine Company acquires all of the voting stock of Falcon Corporation for $65,000, in a merger. Falcon's balance sheet reports the following asset and liability balances:
Current assets
$15,000,000
Plant & equipment
60,000,000
Current liabilities
10,000,000
Long-term debt
40,000,000
Assume the book values of Falcon's assets and liabilities equal their fair values. How much goodwill does Peregrine report at the date of acquisition?
$35,000,000
$40,000.000
$30,000
$0
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