Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $11,300,000 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 $ 1,450,000 8,150,000 230,000 (2,800,000) $7,830,000 Fair Value $ 1,250,000 9,550,000 1,350,000 (2,000,000) $10, 150,000 Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places (.e. $5,500,000 should be entered os 5,50).) Goodwin 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 (i.e., 5,550,000 should be entered as 5.55).) View transaction list Journal entry worksheet Record the acquisition of Premium Meats. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal