answer quickly On January 1, 2014, Malibu Corporation paid S700,000 to purchase 90% of outstanding stock of Balam Corporation. Any excess fair value over the idertifed assets and liabilities isattributed to goodwil Just before the business combination, Balam's Capital stock and retaining earnings were 140,000 and 224.000 respectivelyHow much is the escess fair value over book valu acquired?0413,776O 500,000O B50,000

Calculation of fair value of Balam corporation = Amount paid for the acquisition / % share acquired

On January 1, 2014, Malibu Corporation paid $700,000 to purchase 90% of outstanding stock of Balam Corporation. Any excess fair value over the identifed assets and liabilities is atributed to goodwil Just before the business combination, Balam's Capital stock and retaining earnings were 140,000 and 224,000 respectively How much is the excess fair value over book valu acquired?