increase

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remain the same

Buyer Incorporated acquired ABC Company in 2025. Neither company has ever been a part of any prior acquisition, but ABC Company has developed a valuable list of customers to which Buyer would like to market their products. On June 30, 20X5, Buyer paid $16.0 million in cash to complete the acquisition of ABC Company. As of the date of the acquisition, ABC Company's balance sheet reported total assets of $14.0 million and total liabilities of $4.0 million. The fair market value of ABC Company's separately identifiable assets was $171 million and the fair market value of the liabilities was $4.0 million. After the acquisition, Buyer's book value (i.e., total assets less total liabilities) will