Northern purchased the entire business of Southern including all its assets and liabilities for $2,640,000 on December 31, 2021. Below is Information related to the two companies at that date: Northern Fair value of assets $4,620,000 Fair value of liabilities 2,310,000 Reported assets 3,520,000 Reported liabilities 2,200,000 Net Income for the year 264.000 How much goodwill did Northern pay for acquiring Southern? Southern $ 3,520,000 1,320,000 2,860,000 1,100,000 220,000 51.320.000 5660.000 SODO 5880.000