On August 31, 2020, Southampton Co acquod all of the cost of Brighton Copy, which leaders of statement of financial pution at the time of the action Co Brighton Company Lublities Auch Plantas ( 10) levestory Receivables Cath $1,350,000 235,000 Share capital wary $1.150.000 1070.000 Retained angs Accounts payable 900,000 422.000 Total pity and Total t $2.307.000 $2.801.000 An appraisal indicated that the fair value of the inventory was $372,000 and the fair value of the plant scts was $1,350,000 The agreed pachase price was $3,500,000, and the amount was paid in cash to the previous owners of Brighton Company Required: a Prepare the entry to record the purchase of Brighton Company b. Assume that the carrying amount of Brighton Company division's net assets, including goodwill is $2,350,000 The recoverable amount of the division is estimated to be S 3,000,000 Prepare the journal entry to record the impairment loss (If any) on December 31, 2020 For the toolbar, press ALT+F 10 (PC) or ALT+FN+F10 (Ma *** I. X B IUS Paragraph Y Arial V 10pt