Northern Equipment Corporation purchased all the outstanding common stock of Pioneer Equipment Rental for $5,580,000 in cash. The book values and fair values of Pioneers assets and liabilities were as follows: Book Value Fair Value Accounts Receivable $ 730,000 $ 630,000 Buildings 4,080,000 4,780,000 Equipment 120,000 210,000 Accounts Payable (770,000) (770,000) Net assets $ 4,160,000 $ 4,850,000 Required: 1. Calculate the amount Northern Equipment should report for goodwill. 2. Record Northern Equ