The balance sheet of C Co. shows assets of $87,000 and liabilities of $15,400. The fair value of the assets is $89,700 and the fair value of its liabilities is $15,400. Longhorn paid Cattleman's $82,520 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $360,000; cash paid for rent, $44,000; cash paid to employees for services rendered during the year, $124,000; cash paid for utilities, $54,000.in addition, you determine that customers owed the company $64,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,400 at year-end, and the rent payment was for a two-year period.calculate accrual net income for the year.