Born Corporation agrees to acquire the net assets of Wren Corporation on January $1,2015.$ Wren has the following balance sheet on the date of acquisition:

In performing the impairment test for goodwill, the company had the following $2016$ information available.

$2016$

Fair value of the reporting unit

$$350,000$

Net book value $($including $$50,000$ goodwill$)$ $$$360,000$

Assume that the carrying value of the identifiable assets are a reasonable approximation of their fair values. $1.$ Prove impairment test. $2.$ If impairment, record journal entry for impairment.