On January 1,20X7,Falcon Acquired 100% of the Outstanding Shares of Intra

question 2

Essay

On January 1,20X7,Falcon acquired 100% of the outstanding shares of Intra for $3,600,000.Both are mining companies involved in nickel and copper production.The balance sheet for Intra at the date of acquisition is shown below together with estimated of the fair values and tax values of Intra's recorded assets and liabilities.
The tax rate for Intra and for Falcon is 30%.
Required:
What is the amount of goodwill to be recorded for this business combination?

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Definitions:

Supply Chain

The network of manufacturers, suppliers, and logistics providers involved in the production, distribution, and delivery of a product to its end user.

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A CRM system that is installed and runs on the servers of the organization, rather than at a remote facility like the cloud.

CRM Application

Customer Relationship Management Application; software that helps businesses manage, track, and improve their interactions with customers and potential customers.

Supply Chains

The sequence of processes involved in the production and distribution of a commodity, from the sourcing of raw materials to the delivery of the final product to the consumer.