$750,000 Current liabilities $600,000 500,000 2,200,000 3,300,000 Current assets Noncurrent assets 2,550000 Long-term liabilities $3,300,000 Stockholders' equity Total assets Total liabilities and stockholders' equity It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,645,000. Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31,2017, Conchita reports the following balance sheet information. $430,000 2,260,000 680,000) (480,000) $1,530,000 Current assets Noncurrent assets (including goodwill recognized in purchase) Current liabilities Long-term liabilities Net assets It is determined that the fair value of the Conchita Division is $1,850,000. The recorded amount for Conchita's net assets (excluding goodwill) is the same as fair value, except for property, plant, and equipment, which has a fair value $100,000 above the carrying value. Your answer is incorrect. Assume that fair value of the Conchita Division is $1,489,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31,2017. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e. (45).) The impairment loss 0 List of Accounts