On January 1, 2020, GrayScale Corporation acquired 100 percent of the voting stock of HighColor Corporation in exchange for $2,420 in cash. On the acquisition date, HighColor had the following balance sheet. At the acquisition date, the book values of HighColor's assets and liabilities were generally equivalent to their fair values except for the following assets: Equipment (8 year life) overvalued by $80; Trademark (indefinite life) undervalued by $70; and a Customer list (4 year life) not currently recorded valued at $240. in addition, High Color reported the following net income and dividends for year ended 2020 and 2021: For year ended 2020: Net Income $280 and Dividends-$30. For year ended 2021 Net income $572 and Dividends-$60. REQUIRED: (1) Calculate Goodwill. (2 points) (2) Prepare the consolidation journal entries for 12/31/2020 and 12/31/2021. (31 points) (3) Prepare the consolidated balance sheet. 5 points) (4) Assuming the fair value of the Investment in High Color is as of 12/31/21 is $3,090, is goodwill impaired? If so, how much? (2 points)