Northern purchased the entire business of Southern including all its assets and liabilities for $1,680,000 on December 31, 2021. Below is information related to the two companies at that date: Northern Southern Fair value of assets $2,940,000 $2,240,000 Fair value of 1,470,000 840,000 liabilities Reported assets 2,240,000 1,820,000 Reported liabilities 1,400,000 700,000 Net Income for 168,000 the year 140,000 How much goodwill did Northern pay for acquiring Southern?