Northern purchased the entire business of Southern including all its assets and liabilities for $2,280,000 on December 31, 2021. Below is information related to the two companies at that date: Northern Southern $3,990,000 $3,040,000 1,995,000 1,140,000 Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net Income for 3,040,000 2,470,000 1,900,000 950,000 228,000 190,000 the year How much goodwill did Northern pay for acquiring Southern