- Mainline Produce Corporation Acquired All The Outstanding Common Stock Of Iceberg Lettuce Corporation For 33 000 000 In 1 (57.41 KiB) Viewed 13 times
Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $33,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities. Book Value Fair Value $12,200,000 $15,200,000 22,000,000 28,000,000 3,800,000 4,800,000 8,200,000 8,200,000 14,800,000 13,800,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).) Amount paid for goodwill million