PPP Manufacturing Company decided to expand further by purchasing ABC Company. The balance sheet of WWW Company as of December 31, 2015 was as follows: An appraisal, agreed to by the parties, indicated that the fair value of the acquired inventory was $370,000 and that the fair value of the acquired PP&E assets was $1,325,000. The fair value of the acquired receivables is equal to the amount reported on the balance sheet. The agreed-upon purchase price was $2,275,000, and this amount was paid in cash to the previous owners of ABC Company. Determine the amount of goodwill (if any) implied in the purchase price of $2,275,000. Show your calculations