Exercise 8-20A Computing and recording goodwill LO 8-10 Arizona Corp. acquired the business Data Systems for $295,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $290,000, liabilities of $14,000, and stockholders' equity of $276,000. An appraiser assessed the fair market value of the tangible assets at $285,000 at the date of acquisition. Arizona Corp.'s financial condition Just prior to the acquisition is shown in the following statements model: Assets Llab. Equity Rev. Exp. Cash + Tang. Assets + Net Inc. Cash Flow Goodwill 490,000 NA NA NA 490,000 NA NA NA NA Required: a. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model like the preceding one. d. Record the acquisition in general journal format