Question: On April 1, 2014, Dart Company paid $620,000 for all issued and outstanding common stock of Wall Corporation in a transaction properly accounted for under the acquisition method. Wall's recorded assets and liabilities on April 1, 2014, follow:
On April 1, 2014, Wall's inventory had a $150,000 fair value, and its property and equipment (net) had a $380,000 fair value.
Required: What is the amount of goodwill resulting from the business combination?