Northern purchased the entire business of Southern including all its assets and liabilities for $840,000 on December 31, 2021. Below is information related to the two companies at that date: Northern Southern Fair value of assets $1,470,000 $1,120,000 Fair value of 735,000 liabilities 420,000 Reported assets 1,120,000 910,000 Reported liabilities 700,000 350,000 Net Income for the 84,000 year 70,000 How much goodwill did Northern pay for acquiring Southern? Multiple Choice $140,000