On April 1, 2017, Dart Company paid $620,000 for all issued and outstanding common stock of Wall

Question:

On April 1, 2017, Dart Company paid $620,000 for all issued and outstanding common stock of Wall Corporation in a transaction properly accounted for under the acquisition method. Wall's recorded assets and liabilities on April 1, 2017, follow:

Cash......................................................................................$ 60,000

Inventory.................................................................................180,000

Property and equipment (net of accumulated depreciation of $220,000).......320,000

Goodwill (net of accumulated write-downs of $50,000)..........................100,000

Liabilities...............................................................................(120,000)

Net assets...............................................................................$540,000

On April 1, 2017, Wall's inventory had a $150,000 fair value, and its property and equipment (net) had a $380,000 fair value.

Required:

What is the amount of goodwill resulting from the business combination?

Goodwill
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