Problem 7-3A Calculate and record goodwill (LO7-2) Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $10,800,000 in cash The book values and fair values of Premium Meats' assets and liabilities were Accounts Receivable Equipment Patents Notes Payable Net assets Book Value $ 1,200,000 7.900.000 180,000 (1,500,000) $7,780,000 Fair Value $ 1,000,000 9,300,000 1,100,000 (1,500,000 39,9,000 Required: 1. Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places (ie.. $5,500,000 should be entered as 5.50).) Goodwill million 2. Record Fresh Cut's acquisition of Premium Mests (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in milions rounded to 2 decimal places (le, 5,550,000 should be entered as 5.5555 Journal entry worksheet