Recording Goodwill upon Acquisition On January 1, 2020, the balance sheet of Naperville Company (a sole proprietorship) was as follows Assets Liabilities Accounts receivable Inet of allowance) 584,000 Current 353.200 Inventory 126,000 Noncurrent 112.000 $165.200 Plant and equipment inet of depreciation) 280,000 Equity Land 42.000 Owners' equity 366,800 Total 3532.000 Totallibilities and owners equity 5532.000 On January 1, 2020, Chicago Corporation purchased all of the assets and assumed all of the abilities listed on the above balance sheet for $406,000 cash. The assets, on date of purchase, were valued by Chicago Corporation as follows: accounts receivable (net) 70,000; Inventory, $119.000 plant and equipment (net). $280,000; and land, $63,000. In addition, Chicago Corporation estimated purchased intangible assets of $2,800 for customer list and $11,200 for trade names (both previously unrecorded). The liabilities were valued at their carrying amounts Required a compute the amount of goodwill included in the purchase price paid by Chicago Corporation b. Provide the entry that Chicago Corporation should make to record the purchase of Naperville Company. Account Name Dr. Cr. Accounts Receivable (net) Inventory Plant and Equipment (net) Land Intangible Asset -Customer List Intangible Asset-Trade names Goodwill Current Liabilities Noncurrent Liabilities Cash c. What is the minimum amount of goodwill that Chicago Corporation can amortize at the end of 2020? $