Current assets 2,400,000 3,200,000 (500,000) (300,000) (4,800,000) Noncurrent assets Current liabilities Long-term liabilities Equity It was determined at the date of acquisition that the fair value...

On March 31, 2018, Elf Hotels purchased Reindeers and Riders Company for $6,000,000. Reindeers reported the following balance sheet on the date of the acquisition:


Extracted text: Current assets 2,400,000 3,200,000 (500,000) (300,000) (4,800,000) Noncurrent assets Current liabilities Long-term liabilities Equity It was determined at the date of acquisition that the fair value of the identifiable net assets was $4,500,000, and included internally developed intangibles not included in the book values above of $100,000. How much goodwill will Elf Hotels record on the acquisition? Goodwill: