Fullerton Company issued 70,000 shares of $1 par stock, with a fair value of $10 per share, for 80% of the outstanding shares of Brea Company. The firms had the following separate balance sheets prior to the acquisition: Assets Fullerton Brea Current assets $2,100,000 $ 960,000 Property, plant, and equipment (net) 4,600,000 1,300,000 Goodwill 240,000 Total assets $6.700,000 $2,500,000 $ 800,000 $3,000,000 800,000 Liabilities and Stockholders' Equity Liabilities Common stock ($1 par) Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and equity 2,200,000 200,000 300,000 1.200,000 $2,500,000 700,000 $6.700,000 Book values equal fair values for the assets and liabilities of Brea Company, except for the property, plant, and equipment, which has a fair value of $1,500,000. Compute goodwill or gain recognized in the consolidated statements