Doc Inc. acquired a new division, Metavision on Oct 20^th 2021. The fair market value for the assets and liabiltiies for Metavision on the date of acquisition is as follows:

Current assets	140000
PPE (net)	280000
Intangibles	150000
Current liabilities	190000
Long-term liabilities	220000

Doc Inc. paid $200,000 for the acquisition of Metavision. 10% of this purchase price goes towards in-process R&D. Metavision becomes a fully owned reporting unit under Doc Inc.

On Dec 31^st 2021, Doc Inc. prepares their financial statements. Assuming that Doc Inc. has not made any other acquisition, what is the amount of goodwill that Doc Inc. reports on their balance sheet (prior to any impairments)?

On Dec 31^st 2021, the book value of Metavisions net assets, including the goodwill, is $130,000. The fair market value of Metavision is $120,000. The fair market value of the net assets of the Metavision reporting unit is $90,000. Should Doc Inc. recognize goodwill impairment? If so, provide the journal entries for this goodwill impairment.