Determine the financial statement effects for Fresh Cut as a result of its acquisition of Premium Meats. Note: Amounts to be deducted should be indicated by a minus sign. Enter your answer in millions rounded to 2 decimal pla Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $12,000,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were as follows: Required: 1. Calculate the amount Fresh Cut should report for goodwill. 2. Determine the financial statement effects for Fresh Cut as a result of its acquisition of Premium Meats. Complete this question by entering your answers in the tabs below. Calculate the amount Fresh Cut should report for goodwill. Note: Enter your answer in millions rounded to 2 decimal places. (1.e., $5,500,000 should be entered as 5.50 ). Calculate the amount Fresh Cut should report for goodwill. Note: Enter your answer in millions rounded to 2 decimal places, (t.e., $5,500,000 should be entered as 5,50 ). iabilities