Business

Dane Padilla

8 October, 16:45

On December 1, Year 3, Wall Co. Paid $860,000 in cash for all of the outstanding stock of Hart Corp. The book valueof Hart's assets and liabilities were $800,000 and $180,000. The fair values were $840,000 and $140,000. During December, Wall Co spent an additional $80,000 to maintain "goodwill" in Hart's business by starting a customer loyalty program. What amount should Wall Co report as goodwill related to Hart in its 12/31/Year3 balance sheet?

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