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The balance sheet of Flo's Restaurant showed total assets of $500,000, liabilities of $160,000 and...

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Accounting

The balance sheet of Flo's Restaurant showed total assets of $500,000, liabilities of $160,000 and stockholders' equity of $390,000. An appraiser estimated the fair value of the restaurant assets at $590,000. If Alice Company pays $785,000 cash for the restaurant, what is the amount of goodwill? Multiple Choice $395,000 $195,000 $355,000 $285,000

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