ca . E7-27A (Learning Objective 5: Computing and accounting for goodwill) Assume Haledan paid $16 million to purchase Northshore.com. Assume further that Northshore had the follow- ing summarized data at the time of the Haledan acquisition (amounts in millions): Assets Current assets ........ Long-term assets ...... Northshore.com Liabilities and Equity $13 Total liabilities .......... 23 Shareholders' equity.... $25 $36 Northshore's long-term assets had a current market value of only $18 million. Assess Your Progress 465 I Requirements 1. Compute the cost of goodwill purchased by Haledan. 2. Journalize Haledan's purchase of Northshore. 3. Explain how Haledan will account for goodwill in the future. E7-28A (Learning Objective 6: Reporting cash flows for property and equipment) Assume Shoe Warehouse Corporation completed the following transactions: 11 000 The building had cost Shoe Warehouse $1,700,000