Holly Machine Company decided to expand further by purchasing Serman Company. The balance sheet of Serman Company as of December 31, 2015 was as follows Serman Company Balance Sheet December 31, 2015 Assets Cash Receivables Inventory Plant assets (net) Total assets Liabilities and Equities $ 210,000 Accounts payable $ 375,000 800,000 550,000 275,000 Common stock Retained earnings 1025,000 $2,060.000 Total liabilities and equities $2,060.000 An appraisal, agreed to by the parties, indicated that the fair value of the inventory was $370,000 and that the fair value of the plant assets was $1,325,000. The fair value of the receivables is equal to the amount reported on the balance sheet. The agreed purchase price was $2,275,000, and this amount was paid in cash to the previous owners of Serman Company. Determine the amount of goodwill (if any) implied in the purchase price of $2.275 calculations Instructions ,000. Show