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The Joan Distribution Corporation bought a 20% interest in the Swansong Corporation on January 1,2023...

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Accounting

The Joan Distribution Corporation bought a 20% interest in the Swansong Corporation on January 1,2023 for $25,000. Joan is able to exert significance influence over Erickson.
The buildings will have a useful life of 10 years, and the equipment will have a useful life of 5 years. The goodwill will have an infinite life.
Assets Book value Fair value
Current Assets 80008000
Land 1200012000Buildings 4000045000
Equipment 5000060000
Patents 1000010000
Total Assets 120000135000
Liabilities
Accounts Payable 50005000
Loan Payable 2500025000
Total Liabilities 3000030000
Net Income Dividends Paid 15000
Book Value 5000
How much was allocated to goodwil?

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