Inventory Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In exchange, Alfonso paid $461,000 in cash and issued 100,000 shares of its own $1 par value common stock. On this date, Alfonso's stock had a fair value of $15 per share. The combination is a statutory merger with BelAire subsequently dissolved as a legal corporation. BelAire's assets and liabilities are assigned to a new reporting unit. The following shows fair values for the BelAire reporting unit for January 1, 2020 along with respective carrying amounts on December 31, 2021 Carrying Fai: Value Amounta BalAire Reporting Unit 1/1/20 12/31/21 Caah 6 Receivable 189,750 243,000 218,750 250,000 Patenta 776,500 260,000 Customer relationshipa 586,000 Equipment (net) 355,000 269,000 Goodwill ? Accounts payable (114,500) (184,000 Long-te 11 abilities (591, 500) (518,000) Note: Parentheses indicate a credit balance. a. Prepare Alfonso's journal entry to record the assets acquired and the liabilities assumed in the BelAire merger on January 1, 2020. Note: Enter cash paid and cash received as two separate amounts. b. On December 31, 2021, Alfonso opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire BelAire reporting unit is $1,700.000. What amount of goodwill impairment, if any, should Alfonso recognize on its 2021 income statement? Complete this question by entering your answers in the tabs below. Required A Required B On December 31, 2021, Alfonso opts to forge any goodwill impairment qualitative assessment and estimates that the total fair value of the entire BelAire reporting unit is $1,700,000. What amount of goodwill impairment, if any, should Alfonso recognize on its 2021 income statement? Goodwill Impairment loss