On March 1, 2020 Ajax Corporation acquired all the assets and liabilities of Chelsea Corporation by issuing shares of its common stock. The following is a balance sheet data for the companies prior to the business combination and immediately following the combination: Ajax Corporation Chelsea Corporation Combined Cash $ 75,000 $ 35,000 $ 110,000 Accounts receivable 92,000 30,000 122,000 Inventory 45,000 43,000 98,000 Equipment (net) 420,000 150,000 620,000 Goodwill XXX Total Assets $ 632,000 $ 258,000 XXX Accounts payable $ 375,000 $ 125,000 $ 500,000 Common stock, $2 par 120,000 40,000 200,000 Additional paid-in capital 85,000 30,000 245,000 Retained earnings 52,000 63,000 XXX Total Liabilities & Equity $ 632,000 $ 258,000 XXX What amount of goodwill will be reported by the combined entity immediately following the combination?