On January 2, 2019, Pilates Inc. paid $1,400,000 to acquire all the net assets of Spinning Company, and dissolved Spinning Company. The carrying values for Spinning Company's assets and liabilities are recorded below.

cash 350,000

accounts receivable 300,000

copy rights (purchased) 500,000

goodwill 380,000

Liabilities 200,000

On January 2, 2019, Spinning anticipated collecting $270,000 of the recorded Accounts Receivable. Pilates entered into the acquisition because Spinning had Copyrights that Pilates wished to own, and also unrecorded patents with a fair value of $170,000. What was the amount of goodwill that would be reported on Pilate's balance sheet as of the date of acquisition? *