Bullen issued 12,000 shares of common stock with $ 5. par value and 47 fair value to obtain all of Vicker's outstanding stock. In this acquisition transaction, how much goodwill should be recognized?
Book Value Bullen Book Value Vicker Fair VAlue Vicker
Cash & receiv. 170,000 70,000 70,000
Inventory 230,000 170,000 210,000
Land 280,000 220,000 240,000
Buildings (net) 480,000 240,000 270,000
Equipment 120,000 90,000 90,000
Liabilities 650,000 430,000 420,000
REt.Earnings 250,000 240,000
Common Stock 360,000 80,000
Add.paid in cap 20,000 40,000