Cambridge Group acquired ABC Company for $1,000,000 cash on December 20, 2011. On the date of the purchase, ABC Company has the following fair market values for its assets and liabilities: Cash $100,000 Accounts Receivable $400,000 PP&E $700,000 Accounts Payable $300,000 Notes Payable $450,000 Cambridge allocated 5% of the purchase price to in-process R&D. Cambridge Group reports under U.S. GAAP and will begin testing ABC (a reporting unit) for goodwill impairment at the end of each subsequent year starting with 2012. Cambridge Group did not acquire any other companies during 2011. Cambridge Group ends its fiscal year on December 31 and had the following amounts recorded for Goodwill on its 2011 and 2010 balance sheets. 12/31/2011 12/31/2010 $2,200,000 $1,900,000 Goodwill Question 26: Did Cambridge Group recognize a goodwill impairment loss in 2011? If yes, what was the amount of the impairment loss