Question: Saver Help Save & Exit Subm Lake Incorporated purchased all of the outstanding stock of Huron Company paying $967,000 cash. Lake assumed all of the

Saver Help Save & Exit Subm Lake Incorporated purchased all of the outstanding stock of Huron Company paying $967,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were: Current assets (net) Property, plant, equip. (net) Liabilities Book Value Fair Value $131,500 $124,900 615,000 769,000 150,600 176,000 Lake would record goodwill of Multiple Choice $371,100. $249,100 C $73.100 S Saver Help Save & Exit Subm Lake Incorporated purchased all of the

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