INTANGIBLE ASSETS $-$ Problem $3(6$ points$)$

a$.$ BlackMirror, Inc. purchased another company StrangerThings, Corp. in its entirety for $$165$ million in cash $($i$.$e$.,$ this is an M&A$).$ Below is a list of the assets and liabilities that StrangerThings has $($book values refer to how they appeared on StrangerThings' Balance Sheet before the acquisition, while fair values are determined in independent evaluation$).$

StrangerThings Assets and Liabilities:

Accounts Receivable:

PP&E

Goodwill from prior acquisitions

Copyrights $($internally developed$)$

Accounts Payable

Deferred Tax Liability

$\backslash$table$[[$Book Value,Fair Value$],[35,30],[30**,35],[45,],[18,18]]$

BV of PP&E is comprised of Gross PP&E of $50$ minus Accumulated Depreciation of $20$

What assets does BlackMirror, Inc. add to its Balance Sheet as a result of this M&A

Asset Name

Amount

What liabilities does BlackMirror, Inc. add to its Balance Sheet as a result of this M&A

Liability Name

Amount

b$.$ A year later BlackMirror, Inc. values its StrangerThings related goodwill asset to be $$20.$ What, if any, are the financial statement effects of this valuation?

$\backslash$table$[[$Assets$,=,$Liabilities,$+,$Equity,,Sales,$-,$Expenses,$=,$Profit$],[,,,,,,,,,,],[,,,,,,,,,,],[,,,,,,,,,,],[,,,,,,,,,,]]$