Staton Industries Ltd. is a company in the high-technology industry. Staton has been working on developing a new solar panel technology. The technology meets all of the six criteria required in order to capitalize on development costs. During 2020, Staton incurred the following costs related to research and development:

Rent of facility $ 250,000

Salaries of research staff 290,000

Legal costs to obtain new patent for technology 40,000

Legal costs of defending the new patent in court 36,000

Materials consumed in the manufacture of prototypes 13,100

Consulting fees paid for general research 45,200

Indirect costs related to research and development 9,700

Calculate the amount that Staton would be allowed to capitalize as an intangible asset for 2020, assuming that Staton follows IFRS.

Dell Manufacturing Corp. decided to expand further by purchasing the net assets of Skyline Manufacturing Corp. Bell’s statement of financial position at December 31, 2020 follows.

SKTLINE MANUFACTURING CORP.

Statement of Financial Position

December 31, 2020

Assets Liabilities and Equities

Cash........................................ $ 210,000         Accounts are payable......................  $ 325,000

Receivables................................ 450,000        Common shares............................ 800,000

Inventory................................... 275,000         Retained earnings.....................     835,000

Plant assets (net)................... 1,025,000

Total assets........................ $ 1,960,000        Total equities.......................... $ 1,960,000

An appraisal, agreed to by both parties, indicated that the fair value of the inventory was $ 320,000 and the fair value of the plant assets was $ 1,225,000. The fair value of the receivables and payables is equal to the amount reported on the balance sheet. The agreed purchase price was $ 3 million, and this amount was paid in cash to the owners of Skyline.

Calculate the amount of goodwill (if any) implied in the purchase price of $ 3 million. Show calculations.