Required:

$30$

Note: Use cells A$4$ to C$19$ from the given information to complete this question. All answers should be input and displayed as positive values.

$31$

$32$ a$.$ Determine whether there is a gain on bargain purchase or goodwill if $$672,000$ of cash was paid for Soriano.

$33$

Workbook Statistics

$$$ V

$0$

$$#$$

K

$<$

L

Mc

Ch

Le

ne

WO

$+$

$34$

Cash paid

$35$ Contingent performance liability

$36$ Total consideration transferred

$37$ Fair value of net assets

$38$ Gain on bargain purchase

$39$

$40$ b$.$ Determine whether there is a gain on bargain purchase or goodwill if $$792,100$ of cash was paid for Soriano.