On January 1, 2016, Adams Corporation acquired all of the stock of Baker Company. The fair value of Adams shares used in the exchange was $37,500,000. At the time of acquisition, the book value of Bakers shareholders equity was $5,000,000, and the book value of Bakers building (25-year life) exceeded its fair value by $1,000,000. From the date of acquisition to December 31, 2021, Baker had cumulative net income of $1,300,000. For 2022, Baker reported net income of $300,000. Adams uses the cost method to account for its investment in Baker. There is no goodwill impairment loss for the period 2016 through 2021, but there is impairment loss of $100,000 in 2022. Baker declared no dividends during the period 20162022