Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.19.1
Acquisition (Tables)
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of Purchase Price Allocation On Net Assets Acquired

The following table summarizes the approximate preliminary purchase price allocation based on estimated fair values of the net assets acquired at the acquisition date:

 

Accounts receivable   $ 192,000  
Inventory     200,000  
Other assets     27,000  
Customer relationships     800,000  
Goodwill (a)     1,578,000  
Net assets acquired   $ 2,797,000  

 

  (a) The goodwill is fully deductible for tax purposes.