On July 1, Winter Inc. paid $50,000,000 by cash to acquire summer Inc. Summer Inc. was dissolved after the acquisition. The information of summer Inc. net assets fair value is as follows (in thousands):

Required:
Calculate the goodwill or the gain from bargain purchase of the business combination.

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January 1 July 1 $10,000 $12,000 cash $20,000 S15,000 Accounts receivable $25,000 S32,000 inventories $40,000 $40,000 Plant assets Accounts payable $14,000 $15,000 Notes payable $28,000 S25,000