Annapolis Company was recently sold for $470,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount

Accounts Receivable assumed by buyer $96,000

Inventory $295,000 Property,

Plant & Equipment (net) $570,000

Notes Payable assumed by buyer $625,000

Using this information, how much should be recorded as Goodwill for this transaction?