Northern purchased the entire business of Southern including all its assets and liabilities for $2.640,000 on December 31, 2021. Below is information related to the two companies at that date Help Northern Southern Fair value of assets $4,620,000 $3,520,000 Fair value of liabilities 2,310,000 1,320,000 Reported assets 3,520,000 2,860,000 Reported liabilities 2,200,000 1,100,000 Net Income for the 264,000 220,000 year How much goodwill did Northern pay for acquiring Southern Multiple Choice $1320,000 O $80,000 5660.000 O $40.000