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Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net Income for the year Northern $1,047,000 565,000 800,000 493,000 53,000 Southern $781,000 302,000 641,000 257,000 68,000 How much goodwill did Northern pay for acquiring Southern? Multiple Choice $384.000. $189.100. $288,000. O $193,000 Kansas Enterprises purchased equipment for $77,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $6,600 at the end of five years. Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022, would be Multiple Choice $14,000 and 548,840 $15,400 and $46,200 $15.400 and $39.600 $14,080 and $42.240 On November 1, 2021, New Moming Bakery signed a $200,000, 6% six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. New Morning Bakery records the appropriate adjusting entry for the note on December 31, 2021. What amount of cash will be needed to pay back the note payable plus any accrued interest on May 1, 2022? (Do not round your intermediate calculations.) Multiple Choice $200.000 $201,000 $205.000 $206.000