Northern purchased the entire business of Southern including all its assets and liabilities for $2,520,000 on December 31, 2024. Below is information related to the two companies at that date: Fair value of assets Fair value of liabilities Reported assets Reported liabilities Net Income for the year How much goodwill did Northern pay for acquiring Southern? Multiple Choice $420,000 $840,000 $1,260,000 Northern $ 4,410,000 2,205,000 3,360,000 2,100,000 252,000 $630,000 Southern $ 3,360,000 1,260,000 2,730,000 1,050,000 210,000

Northern purchased the entre business of Southern including all its assets and liabilities for $2,520,000 on December 31, 2024. Below is information related to the two companies at that date: How much goodwill did Northern pay for acquiring Southern? Multiple choice $420,000 $840.000 $1,260,000 5630000