The Chief Manufacturing Company decided to expand further by purchasing the Bell Company. The balance sheet of Bell Company as of December 31, 2015 was as follows: Bell Company Assets Cash. Receivables. Inventory. Plant assets (net)...... Total Assets Balance Sheet December 31, 2015 Liabilities and Equity $112,500 Accounts payable.. $325,000 450,000 Common stock... 700,000 275,000 Retained earnings... 837,500 1,025,000 $1,862,500 Total Liabilities and Equity .$1,862,500 An appraisal, agreed to by the parties, indicated that the fair market value of the inventory was $375,000 and that the fair market value of the plant assets was $1,225,000. The agreed purchase price was $2,500,000, and this amount was paid in cash to the previous owners of Bell Company. Required The dollar amount of goodwill recorded in the acquisition is: Plant assets will be recorded in the acquisition at what dollar amount? odwill is amortized over its useful life. Goodwill must be reported separately from other intangible assets Goodwill must be tested annually for impairment.