16 Northem purchased the entire business of Southern including all its assets and liabilities for $1,080,000 on December 31, 2021. Below is information related to the two companies at that date Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net income for the year Northem Souther $1,890,000 $1,440,000 945,000 540,000 1,440,000 1,170,000 900,000 450,000 108,000 90,000 How much goodwill did Northern pay for acquiring Southem? $180,000. $540,000. $360,000 $270,000