Alfonso Inc. acquired $100$ percent of the voting shares of BelAire Company on January $1,2020.$ In exchange, Alfonso paid $$198,000$ in

cash and issued $100,000$ shares of its own $$1$ par value common stock. On this date, Alfonso's stock had a fair value of $$15$ per share.

The combination is a statutory merger with BelAire subsequently dissolved as a legal corporation. BelAire's assets and liabilities are

assigned to a new reporting unit.

The following shows fair values for the BelAire reporting unit for January $1,2020$ along with respective carrying amounts on December

$31,2021.$

Note: Parentheses indicate a credit balance.

a$.$ Prepare Alfonso's journal entry to record the assets acquired and the liabilities assumed in the BelAire merger on January $1,2020.$

Note: Enter cash paid and cash received as two separate amounts.

b$.$ On December $31,2021,$ Alfonso opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value

of the entire BelAire reporting unit is $$1,325,000.$ What amount of goodwill impairment, if any, should Alfonso recognize on its $2021$

income statement?