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Long-Term Operating Assets: Acquisition, Cost Allocation, and Derecognition Goodwill and Bargain Purchase Computations The trial balance for the Dark Horse Company follows: Credit $ Description Cash inventory Property, plant, and equipment - Net Current liabilities Common stock - No par Retained earnings Totals Debit 30,000 100,000 370,000 5 50,000 150,000 300,000 $500,000 S 500,000 MPL, Inc. offers to acquire Dark Horse. The additional information is given below: $ 650,000 $ 250,000 Purchase price (Requirement 1 assumption) Purchase price (Requirement 2 assumption) El market value of the inventory The plant assets were undervalued by S $ 180,000 50.000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong, Requirements 1 Calculate the amount of goodwill or bargain purchase gain to be recorded on the acquisition Assume now that MPL, Inc. offers to acquire Dark Horse at the purchase price identified in the data table. Determine the amount of goodwill or bargain purchase gain. a.Use a minus sign or parentheses for bargain purchase gain, if any. b. Use cell references from prior calculations, if applicable