Problem 7-3A Calculate and record goodwill (L07-2) Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $10,200,000 in cash. The book values and fair values of Premium Meats' assets and abilities were: Book ValuePair Value Accounts Receivable $ 900,000 $ 700,000 Equipment 7,600.000 9,000,000 Patents 120,000 800,000 Notes Payable 1900.000 (900,000) Net assets $7,220,000 59,600,000 Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places (... $5,500,000 should be entered as 5.50)) Goodwill million 2. Record Fresh Cut's acquisition of Premium Meats. (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions rounded to 2 decimal places (1.0., 5,550,000 should be entered as 5.55).) View transaction et Journal entry worksheet Record the acquisition of Premium Meats. Note Enter debits before Transaction General Journal Dobit Credit