b) Cultus Corp. decided to expand further by purchasing the net assets of Silk Corp. Silk's statement of financial position at December 31, 2020 follows. SILK CORP. Statement of Financial Position December 31, 2020 AssetsLiabilities and Equities Cash$ 210,000Accounts payable$ 325,000 Receivables450,000Common shares 800,000 Inventory275,000Retained earnings 835,000 Plant assets (net) 1.025.000 Total assets$ 1.960,000Total equities$ 1.960,000 An appraisal, agreed to by both parties, indicated that the fair value of the inventory was $ 320,000 and the fair value of the plant assets was $ 1,225,000. The fair value of the receivables and payables is equal to the amount reported on the balance sheet. The agreed purchase price was $ 3 million, and this amount was paid in cash to the owners of Silk Corporation Instructions: Calculate the amount of goodwill (if any) implied in the purchase price of $ 3 million Show calculations