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"I am meeting with some private investors next Monday to try to arrange financing for the purchase of MicroPet. I

do not understand much about accounting, and in particular, the concept of goodwill. However, I will need to be able to explain this to the private investors in order to gain their cooperation. Please write me a brief summary explaining what goodwill is, including a discussion of how it will affect our financial statements. As well, I need to know how I can determine if the value of the goodwill that MicroPet is claiming is reasonable." Required: Write a memo to Marcus, addressing his questions. The memo should be concise (maximum 500 words), clear, unified, and should be adapted to the audience's needs.

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