Westfield Bank and Trust acquired 100% of the outstanding voting shares of Cleveland United Bank on January 1, 2017. Before the acquisition, the balance sheets of the two companies are as follows:
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Westfield Bank and Trust issues 75,000 shares of its common stock with a market value of $1,062 million to the owners of Cleveland United Bank in return for all of their shares of Cleveland United common stock. The assets of Cleveland United have a fair value in excess of book value of $34.8 million.
The consolidated balance sheet of Westfield Bank and Trust at January 1, 2017 would report goodwill of:

Question

Westfield Bank and Trust acquired 100% of the outstanding voting shares of Cleveland United Bank on January 1, 2017. Before the acquisition, the balance sheets of the two companies are as follows:
 Continued next page
Westfield Bank and Trust issues 75,000 shares of its common stock with a market value of $1,062 million to the owners of Cleveland United Bank in return for all of their shares of Cleveland United common stock. The assets of Cleveland United have a fair value in excess of book value of $34.8 million.
The consolidated balance sheet of Westfield Bank and Trust at January 1, 2017 would report goodwill of:

Quizplus · Accepted Answer

The Answer of Westfield Bank and Trust acquired 100% of the outstanding voting shares of Cleveland United Bank on January 1, 2017. Before the acquisition, the balance sheets of the two companies are as follows:
 Continued next page
Westfield Bank and Trust issues 75,000 shares of its common stock with a market value of $1,062 million to the owners of Cleveland United Bank in return for all of their shares of Cleveland United common stock. The assets of Cleveland United have a fair value in excess of book value of $34.8 million.
The consolidated balance sheet of Westfield Bank and Trust at January 1, 2017 would report goodwill of:

Westfield Bank and Trust Acquired 100% of the Outstanding Voting