On January 1, 2021, Consolidated Company purchased 100% of the common stock Avergy Industries for $720,000. On that date, Avergy had common stock of $100,000 and retained earnings of $420,000. Equipment and land were each undervalued by $50,000 on Avergys books. There was a $40,000 overvaluation of Bonds Payable, as well a $60,000 undervaluation of inventory. What is the amount of goodwill recorded in connection with this combination