1. Snoopy Inc. is considering purchasing the net assets of Woodstock Corporation. Following is the statement of financial position of Woodstock as at December 31, 2020. WOODSTOCK CORPORATION Statement of Financial Position As at December 31, 2020 Current assets $ 231,400 Buildings and equipment 753,000 Accumulated amortization (113,000) Land 173,000 Total assets $ 1,044,400 Current liabilities $ 187,000 Common shares 577,000 Retained earnings 280,400 Total liabilities and equity $ 1,044,400 Following are the fair values of Woodstocks net assets as at December 31, 2020. Current assets $ 225,500 Buildings and equipment 482,600 Land 313,500 Current liabilities (166,300) $ 855,300 Instructions Calculate the value of goodwill that would be recorded by Snoopy if it offered $ 2,060,300 for the net assets of Woodstock Corporation.