Arcadia, Incorporated, acquired $100$ percent of the voting shares of Bruno Company on January $1,2023.$ In exchange, Arcadia paid $$198,000$ in cash and issued $100,000$ shares of its own $$1$ par value common stock. On this date, Arcadia's stock had a fair value of $$15$ per share. The combination is a statutory merger with Bruno subsequently dissolved as a legal corporation. Bruno$$s assets and liabilities are assigned to a new reporting unit.

The following shows fair values for the Bruno reporting unit for January $1,2023,$ along with respective carrying amounts on December $31,2024.$

Bruno Reporting Unit Fair Values $1/1/23$ Carrying Amounts $12/31/24$

Cash $ $65,000$ $ $40,000$

Receivables $203,000235,000$

Inventory $275,000250,000$

Patents $531,000550,000$

Royalty agreements $580,000450,000$

Equipment $($net$)215,000335,000$

Goodwill $?400,000$

Accounts payable $(111,000)(275,000)$

Long$-$term liabilities $(460,000)(425,000)$

Note: Parentheses indicate a credit balance.

Required:

Prepare Arcadia's journal entry to record the assets acquired and the liabilities assumed in the Bruno merger on January $1,2023.$

On December $31,2024,$ Arcadia opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire Bruno reporting unit is $$1,325,000.$ What amount of goodwill impairment, if any, should Arcadia recognize on its $2024$ income statement?