Northern purchased the entire business of Southern including all its assets and liabilities for $668,500 Below is information related to the two companies: Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net Income for the year Northern Southern $1,053,000 $792,000 584,000 312,000 810,000 643,000 500,000 261,000 43,000 68,000 How much goodwill did Northern pay for acquiring Southem? Multiple Choice $382,000 < Prev 34 of 66 Next >