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(Solved): LB Logistics Corp. decided to expand further by purchasing the net assets of TRI Storage Corp. TRI' ...



LB Logistics Corp. decided to expand further by purchasing the net assets of TRI Storage Corp. TRI's statement of financial position at December 31, 2023 follows TRI STORAGE CORP. Statement of Financial Position - December 31,_2023 Assets Liabilities and Equities Cash.. S 245,000 Accounts payable. $335,000 Receivables 465,000 ommon shares....865,000 Inventory. 285,000 Retained earnings._965,000 Plant assets (net) $1,125,000 Patents/Trademarks $45,000 Total liabilities & Total Assets.. $2,165,000 Equities.. $2,165.000 An appraisal, agreed to by both parties, indicated that the fair value of the inventory was $325,000 and the fair value of the plant assets was $1,245,000 and the fair value of the Patents / Trademarks was $40,000. The fair value of the receivables and payables is equal to the amount reported on the balance sheet. The agreed purchase price was $2,225,000, and this amount was paid in cash to the owners of TRI. Instructions_(show_all_ calculations), Calculate the amount of goodwill (if any) implied in the purchase price of $2,225,000. Show appropriate titles for all amounts in your presentation.



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