Acquisition and consolidating financial statements:

Nando Company bought 100% of Gio Company for $1,000,000 cash. The market value of Gio's current assets was $300,000 on that date, the market value of Gio's PPE was $350,000 on that date, and the market value of Gio's liabilities was $100,000 on that date. Below is Nando Companys balance sheet as of the acquisition date (before consolidation). The questions below apply only to Nando's consolidated balance sheet

	Nando Co. Pre-consolidated Balance Sheet (i.e. before purchase of Nando)
Current Assets	$2,000,000
PPE, Net	800,000
Total Assets	2,800,000
Liabilities	1,300,000
Common Sock	900,000
Retained Earnings	600,000
Total Liabilities and Shareholders' Equity	$2,800,000

You may assume that goodwill is the only intangible asset established as a consequence of the acquisition. Using the data given above, determine the amount of goodwill associated with this purchase on Nando's consolidated balance sheet.

What amount will be shown on Nando's consolidated balance sheet for total assets immediately after the acquisition (hint: remember to reduce the cash paid for the acquisition)?