Remaining Time: 18 minutes, 14 seconds. Question Completion Status: - On 1/1/2022 Green Company purchased Norzalin Company for $450,000 cash. The following is the statement of financial position on the date of purchase: Norzalin Company Statement of Financial Position On 1 January 2022 Land 250,000 Capital 350,000 Copyrights 150,000 Share premium 20,000 Inventories 100,000 Loun 130,000 Total Assets 500,000 Total equity & 500,000 Liabilities Additional Information: - Land is undervalued by 50,000 - Inventories are overvalued by 20,000 Answer the following questions: 1- Is there any goodwill in this purchase? Yes/No (Half mark) 2- If yes, how much this goodwill? (One mark) 3. In the journal entry goodwill should be in which side? Debit/Credit (Half mark)