Oriole Manufacturing Corp. decided to expand further by purchasing the net assets of Sheridan Manufacturing Corp. Sheridan's

statement of financial position at December $31,2023$ includes the following information:

An appraisal indicates that the fair value of the inventory is $$323000$ and the fair value of the plant assets is $$1231000.$ What value is

allocated to goodwill if Oriole purchases Sheridan for $$3042000?$

nil, there is no goodwill

$$706400$

$$1433400$

$$1117000$