2. On April 1 Jack Company paid $800000 for all the issued and outstanding comm

2.
On April 1 Jack Company paid $800000 for all the issued and
outstanding common stock of Ann Corporation in a transaction properly
accounted for as a purchase. The recorded assets and liabilities of Ann
Corporation on April 1 follow:Cash $ 80000Inventory 240000Property and equipment (net of accumulated depreciation of $320000) 480000Liabilities (180000)On
April 1 it was determined that the inventory of Ann had a fair value
of $190000 and the property and equipment (net) had a fair value of
$560000. What is the amount of goodwill resulting from the business
combination?