(13) Acquisition of Field and Stream Stores 2020 Acquisition On February 14, 2020, SWI, a wholly owned subsidiary of the Company, entered into an Asset Purchase Agreement (the  2020 Purchase Agreement) with DICKS. Pursuant to the 2020 Purchase Agreement, SWI agreed, subject to certain conditions, to acquire from DICKS all cash, inventory, furniture, fixtures, and equipment, and certain other assets related to one Field &amp; Stream store operated by DICKS (the 2020 Acquired Store). The Acquired Store is located in Kentucky. The acquisition of the 2020 Acquired Store closed on March 12, 2020 (the 2020 Closing Date). On the 2020 Closing Date, SWI entered into a sublease with DICKs with respect to the 2020 Acquired Store location. Pursuant to the 2020 Purchase Agreement and in connection with closing of the acquisition, the parties also entered into a transition services agreement related to the 2020 Acquired Store by which DICKS will provide transition services to the Company for a period of up to 120 days of the 2020 Closing Date. The aggregate consideration to be paid to DICKS under the 2020 Purchase Agreement is $2,100 (the 2020 Purchase Price), subject to certain post-closing adjustments set forth in the 2020 Purchase Agreement. On the 2020 Closing Date, SWI drew $1,100 under the Revolving Line of Credit to fund a portion of the 2020 Purchase Price. The remaining approximately $1,000 of consideration owed to DICKS in connection with the acquisition is due in June 2020. As part of the acquisition, the Company incurred legal, accounting, and other due diligence fees that were expensed as incurred. Total fees incurred for the three months ended May 2, 2020 were $29 which were included as a component of Selling, general, and administrative expenses The following table summarizes the 2020 Purchase Price consideration and related cash outflow at the Closing Date: March 12, 2020 Cash paid to seller $ 1,075 Payable to seller 1,024 Total purchase price $ 2,099 The net purchase price of $2.1 million was preliminarily allocated solely to the inventory acquired. In conjunction with the acquisition of the store, the Company recorded a right of use asset and liability relating to the lease entered into in the amount of $1,794. 2019 Acquisition On September 28, 2019, Sportsmans Warehouse, Inc. (SWI), a wholly owned subsidiary of the Company, entered into an Asset Purchase Agreement (the Purchase Agreement) with DICKS Sporting Goods, Inc. (DICKS). Pursuant to the Purchase Agreement, SWI agreed, subject to certain conditions, to acquire from DICKS all cash, inventory, furniture, fixtures, and equipment, and certain other assets related to up to eight Field &amp; Stream stores operated by DICKS (the 2019 Acquired Stores). The 2019 Acquired Stores are located in New York (2), Pennsylvania (3), North Carolina (2) and Michigan (1). The acquisition of the eight 2019 Acquired Stores closed on October 11, 2019 (the Closing Date). On or prior to the Closing Date, SWI entered into a sublease with DICKs with respect to each Acquired Store location. Pursuant to the Purchase Agreement and in connection with closing of the acquisition, the parties also entered into a transition services agreement related to the 2019 Acquired Stores by which DICKS provided transition services to the Company for a period of up to 120 days of the Closing Date. The aggregate consideration paid to DICKS under the Purchase Agreement was $28,703 (the Purchase Price). On the Closing Date, SWI drew $19,703 under the Revolving Line of Credit to fund a portion of the Purchase Price. The remaining approximately $9,000 of consideration owed to DICKS was paid in January 2020. As part of the acquisition, the Company incurred legal, accounting, and other due diligence fees that were expensed as incurred. Total fees incurred relating to this acquisition were $662 which were included as a component of Selling, general, and administrative expenses. The following table summarizes the Purchase Price consideration and related cash outflow at the Closing Date: October 11, 2019 Cash paid to seller $ 19,241 Payable to seller 9,462 Total purchase price $ 28,703 The net Purchase Price of $28,703 has been allocate to identifiable assets acquired based on their respective estimated fair values. No liabilities were assumed as part of the acquisition of the 2019 Acquired Stores other than the lease obligation. The excess of the Purchase Price over the fair value of the tangible and intangible assets acquired is recorded as goodwill. The following table summarizes the estimated fair value of the identifiable assets acquired and assumed liabilities as of the Closing Date: October 11, 2019 Cash $ 167 Inventory 19,152 Property, plant, and equipment 5,250 Operating lease right of use asset 33,436 Operating lease right of use liability (31,051) Deferred tax asset 253 Goodwill 1,496 Total $ 28,703 The allocation of the purchase price for the 2019 stores that were acquired was finalized as of February 1, 2020 and the Company does not expect any further adjustments to the allocation in future periods. Right of Use Asset and Liability The right of use asset and liability were determined by taking the present value of the future minimum lease payments associated with the 2019 acquired stores. The Company utilized discount rates for the leases similar to the rates used to present value its other leases. The difference between the asset and the liability noted above is attributable to favorable lease rates in the acquired store leases. Goodwill Goodwill represents the excess of the purchase price over the fair value of the assets acquired. The Company believes that the primary factors supporting the amount of goodwill is the workforce acquired in the store locations. The amount of goodwill that is amortizable for tax purposes is $4,134. Pro Forma Results The following pro forma results are based on the individual historical results of the 2019 and 2020 acquired stores with adjustments to give effect to the combined operations as if the acquisition had been consummated at the beginning of fiscal year 2019. The pro forma results are intended for informational purposes only and do not purport to represent what the combined results of operations would actually have been had the acquisition in fact occurred at the beginning of the earliest period presented. The pro forma information includes the following adjustments (i) depreciation based on the fair value of acquired property, plant, and equipment; (ii) cost of goods sold based on the step-up in fair value of the acquired inventory; (iii) interest expense incurred in connection with the borrowings on the revolving line of credit used to finance the acquisition; and (iv) elimination of acquisition expenses. Thirteen Weeks Ended May 2, May 4, 2020 2019 Net sales $ 247,386 187,798 Net income $ (1,215) (5,430) Earnings per share: Basic $ (0.03) (0.13) Diluted $ (0.03) (0.13)