Here when the bottom right hand corner of the assumptions Tab and we need to do a Goodwill calculation for this company. The Goodwill calculation will be the difference between the Etsy purchase price and the fair value of identifiable net assets at the targets.

The equity purchase price. We've already got calculated. It's a bit further up and we need to make sure that we're taking it from the Euro column. So it's 54,122.

Now we're going to find the targets Book value, but that's only the book value. I the old value of the targets. We really want the fair value of identifiable net assets. So we'll make some adjustments.

Let's go find monsanto's book value that's on the opening balance sheet. So our Haskell four tabs to the right.

I can say I'm looking at the Target column here column D if I scroll down I'm going to grab their shareholders Equity figure, but another word for that is net assets.

Now we need to do some stepping up and down. And the first one we're going to do is we're going to step down the target's existing Goodwill.

I'm going to assume that my shareholders look at that and they say what's that? We don't have any respect for that at all. Get rid of it. We will calculate our own Goodwill figure instead.

So I'll step that down. I'll go to the opening balance sheet tab again and find that in column d.

3,823 and I'm using that as a negative number to bring down the identifier and assets.

However, we need to recognize new brand value. We've got that down to the bottom left hand side here in our assumptions.

So Target brand value you might notice this is in US Dollars though as we have converted everything to euros. We need to multiply this by the FX.

And that's changes it from 15,000 to 14,265.

I then need to do exactly the same thing with with a p p and E step up that's in US Dollars. I'm gonna multiply by FX.

And now I've got two step UPS.

If I sold the company tomorrow those two step-ups would lead to a gain and we would need to be taxed on that game. So what we'll do is I will take the negative because this is going to be deferred tax liability and I'll take the negative of the sum of those gains and then multiply them by the targets marginal tax rate.

Why do you take the targets because it's the target's assets that have been revalued here.

So now I can find the fair value of identifiable net assets. I do that by summing everything from the Monsanto Book value and the adjustments underneath I can now calculate Goodwill on the acquisition and everything is in Euros there. I do that by taking the equity purchase price.

Minus the fair value of identifiable net assets get me to a figure of 43,419.2.