Northern Company acquired Southern Company. The purchase price included all Southern's assets and liabilities and was in the amount of \( \$ 600,000 \). Below is information related to the two companies.
How much goodwill will Northern report in its acquisition of Southern?
\begin{tabular}{lrr}
& Northern & Southern \\
Yair value of assets & \( \$ 1,050,000 \) & \( \$ 800,000 \) \\
Yair value of \( 11 a b 111 \) ties & 575,000 & 300,000 \\
Reported assets & 800,000 & 650,000 \\
Reported 11ab1lities & 500,000 & 250,000 \\
Met incone for the year & 60,000 & 50,000
\end{tabular}
\( \$ 100,000 \)
\( \$ 150.000 \)
\( \$ 200,000 \)
\( \$ 300,000 \)