(Solution) - On September 1 2008 Dungeon Corporation acquired Dragon Enterp -(2025 Original AI-Free Solution)

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On September 1, 2008, Dungeon Corporation acquired Dragon Enterprises for a cash payment of $750,000. At the time of purchase, Dragon?s balance sheet showed assets of $620,000, liabilities of $200,000, and stockholders? equity of $420,000. The fair value of Dragon?s assets is estimated to be $800,000. Compute the amount of goodwill acquired by Dungeon.