Sheridan is having liquidity issues and must sell its business. The company's total assets have a fair value of $$847000$ and liabilities of

$$272000.$ Sheridan's book value of the assets is $$120000.$ If Pharoah, Inc. purchases the company for $$687000,$ how much if any, will

Pharoah record as goodwill?

$$112000$

$$687000$

$$272000$

$$-0-$