Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017. In exchange, Francisco paid $788,250 in cash and issued 125,000 shares of its own $1 par value common stock. On this date, Franciscos stock had a fair value of $12 per share. The combination is a statutory merger with Beltran subsequently dissolved as a legal corporation. Beltrans assets and liabilities are assigned to a new reporting unit. The following reports the fair values for the Beltran reporting unit for January 1, 2017, and December 31, 2018, along with their respective book values on December 31, 2018. Beltran Reporting Unit Fair Values 1/1/17 Fair Values 12/31/18 Book Values 12/31/18 Cash $ 125,500 $ 79,500 $ 79,500 Receivables 308,750 348,000 348,000 Inventory 264,250 310,000 302,900 Patents 623,500 740,000 593,500 Customer relationships 674,750 636,000 595,750 Equipment (net) 394,500 290,000 282,550 Goodwill ? ? 580,000 Accounts payable (172,500 ) (260,000 ) (260,000 ) Long-term liabilities (510,500 ) (412,000 ) (412,000 ) Prepare Franciscos journal entry to record the assets acquired and the liabilities assumed in the Beltran merger on January 1, 2017. On December 31, 2018, Francisco opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire Beltran reporting unit is $1,851,500. What amount of goodwill impairment, if any, should Francisco recognize on its 2018 income statement?