Halcomb Company's balance sheet on December 31, 2017, was as follows:

Assets

Cash $ 80,000

Trade accounts receivable (net) 160,000

Inventories 400,000

Plant assets (net) 720,000

Total assets $1,360,000

Liabilities & Stockholders' Equity

Current liabilities $ 240,000

Long-term debt 400,000

Common stock, $1 par 80,000

Additional paid-in capital 160,000

Retained earnings 480,000

Total liabilities & stockholders' equity $1,360,000

On December 31, 2017, Ruth Corporation acquired all the outstanding common stock of Halcomb for $1,200,000. On that date, the current fair value of Halcomb's inventories was $360,000 and the current fair value of Halcomb's plant assets was $800,000. The current fair values of all other identifiable assets and liabilities of Halcomb were equal to their carrying amounts.

As a result of the acquisition of Halcomb by Ruth, the December 31, 2017, consolidated balance sheet of Ruth and subsidiary displays goodwill in the amount of: