Goodwill Acquired by Sarasota Assignment
On August 1, 2017, Sarasota Corporation acquired Metlock, Inc. for a cash payment of $2.3 million. At the time of purchase, Metlock’s balance sheet showed assets of $4,410,000, liabilities of $2,590,000, and owners’ equity of $1,820,000. The fair value of Metlock’s identifiable assets is estimated to be $4,262,000.
Compute the amount of goodwill acquired by Sarasota.
|The value assigned to goodwill||$|