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On January 1, 2017, Floyd Inc. purchases Haeger Inc. for $1.6 million in cash. Haeger's balance sheet dated December 31, 2016, reports $1.24 million...
On January 1, 2017, Floyd Inc. purchases Haeger Inc. for $1.6 million in cash. Haeger's balance sheet dated December 31, 2016, reports $1.24 million in total net assets. An analysis conducted by Floyd on December 31 suggests that the book value of Haeger's tangible assets is $120,000 lower than their fair value. This analysis also indicates that the fair value of Haeger's identifiable intangible assets exceeds their book value by $90,000. Given this information, Floyd should record a goodwill amount of _______ when recording its purchase of Haeger.
