Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $11,800,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were: Accounts Receivable Equipment Patents Notes Payable Net assets Book Value $ 1.700,00 8,460,890 28e.ee (2.500.000) $ 7,880, ese Fair Value $ 1.500.000 9 , Bee, see 1.600,00 (2,500,000) $10,400,000 Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places (i.e., $5,500,000 should be entered as 5.50).) Goodwill million 2. Record Fresh Cut's acquisition of Premium Meats. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in millions rounded to 2 decimal places (le, 5,550,000 should be entered as 5.55).) View transaction list Journal entry worksheet Record the acquisition of Premium Meats. earch