Exercise 8-20A (Algo) Computing and recording goodwill LO 8-10 Arizona Corporation acquired the business Data Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $340,000, liabilities of $19,000, and stockholders' equity of $321,000. An appraiser assessed the fair market value of the tangible assets at $310,000 at the date of acquisition. Required: a. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model. Arizona Corp.'s financial condition just prior to the acquisition is shown in the financial statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of goodwill acquired. Cash paid Acquisition Price Liabilites assumed Total FMV of assets Goodwill Required A Required B > financial statements model. Ruel Arizona Corp.'s financial condition just prior to the acquisition is shown in the Complete this question by entering your answers in the tabs below. Required A Required B Record the acquisition in a financial statements model. Arizona Corp.'s financial condition just prior to the acquisition is shown in the financial statements model. Note: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity Enter any decreases balances and cash outflows with a minus sign. Not all cells require input, Round final answers to the nearest whole dollar amount ARIZONA CORPORATION Horizontal Statements Model Balance Sheet Income Statement Event Cash 540,000 Assets Tangible Assets Liabilities Goodwill Stockholder's Equity Net Revenue Statement of Cash Flows Expense Income 540,000 Acquisition