Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017. In exchange, Francisco paid $794,250 in cash and issued 112,000 shares of its own $1 par value common stock. On this date, Francisco's stock had a fair value of $12 per share. The combination is a statutory merger with Beltran subsequently dissolved as a legal corporation. Beltran's 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 Cash Receivables Inventory Patents Customer relationships Equipment (net) Goodwili Accounts payable Long-term liabilities Fair Values 1/1/17 $ 120,500 286, 250 271, 250 686,500 586, 250 312,000 Fair Values 12/31/18 $ 87,500 340,500 316,000 790,000 564,000 242,000 Book Values 12/31/18 $ 87,500 340,500 306, 100 658,500 528,500 233,700 534,000 (203,000) (428,000) (139,500) (519,000) (203,000) (428,000) a. Prepare Francisco's journal entry to record the assets acquired and the liabilities assumed in the Beltran merger on January 1, 2017. b. 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 $1,823,000. What amount of goodwill impairment, if any, should Francisco recognize on its 2018 income statement