nstructions Grand Champion Inc. purchased America's Sweethearts Corporation on January 1, 2019. At the time, America's Sweethearts had the following assets and liabilities (stated at fair value): Cash Accounts receivable Inventory $63,000 137,000 180,000 Property, plant, and equipment 300,000 65,000 Patent Accounts payable Notes payable 180,000 325,000 Grand Champion paid $900,000 for America's Sweethearts. Assume that America's Sweethearts is a reporting unit of Grand Champion. At the end of 2020, America's Sweethearts has a fair value of $720,000 and a book value of $890,000, which includes any goodwill recorded. Of this fair value, $340,000 is attributable to identifiable assets net of (or identifiable net Required: Calculate the impairment loss of goodwill (if any) and record the appropriate journal entry.