Pennington Corporation purchased 80% of the voting common stock of Stafford Corporation for $3,200,000 cash on January 1, 2016. On this date the book values and fair values of Stafford Corporation's assets and liabilities were as follows: 
Required:
Prepare a schedule showing how the difference between Stafford Corporation's implied value and the book value of the net assets acquired should be allocated.
Definitions:
Chronic Arousal
A continuous state of being physiologically alert and responsive to stimuli.
Emotional Numbness
A detachment from emotional responses, often as a coping mechanism in response to trauma or stress, leading to a significant reduction in experiencing feelings.
Child Birth
The process by which a baby is born, encompassing the labor and delivery phases.
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