Figure:
Salem Co Bellington Inc

Essay

Figure:
Salem Co. had the following account balances as of December 1, 2010: $$\begin{array} { l r } \text { Inventory } & \$ 720,000 \\\text { Land } & 600,000 \\\text { Buildings - net (valued at } \$ 1,200,000 ) & 1,080,000 \\\text { Common stock ( } \$ 10 \text { par value) } & 960,000 \\\text { Retained earnings, December } 1,2010 & 1,320,000 \\\text { Revenues } & 720,000 \\\text { Expenses } & 600,000\end{array}$$ Bellington Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of Salem's outstanding common stock.
-Determine the balance for Goodwill that would be included in a December 1, 2010, consolidation.