Northern purchased the entire business of Southern including all its assets and liabilities for $640,500. 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 $1,048,000 $795,000 582,000 302,000 805,000 633,000 495,000 267,000 43,000 68,000 How much goodwill did Northern pay for acquiring Southern? Multiple Choice $366.000 $147.500