On July $1,2024,$ Kroger Inc. acquired Hole Foods for $$500$M cash and a $$250$M Note payable to the Bank of New York. The balance sheet on that date for Hole Foods is as follows: Hole Foods Accounts Payable Stockholders' Equity $$200,000235,000$ Balance Sheet July $1,2024($in thousands$)$ $$50,00090,000100,00040,00075,00070,00010,000$ $$435,000$ $$435,000$ Cash Accounts Receivable Inventory Land Buildings $($net$)$ Equipment $($net$)$ Trademarks Totals The recorded amounts $($book values$)$ all approximate fair value except for Land $($Fair Value $$80$M$)$ Inventory $($Fair Value is $$150$M and Trademarks $($Fair Value $$50$M$).$ Instructions: Answer the following questions for Kroger's acquisition of Hole Foods. Determine the amount of Goodwill, if any, that Kroger should recognize. $2.$ On December $31,2024,$ the Fair Value of Kroger's Goodwill is estimated to be $$300$M$.$ Under GAAP, is Kroger required to record any adjusting entries or disclosures. If so$,$ what amount would be recorded as an adjustment to Kroger's books.