On July 31, 2025, Pharoah Company paid $2,900,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Pharoah. Conchita reported the following balance sheet at the time of the acquisition. Current assets $710,000 Current liabilities $500,000 Noncurrent assets 2,600,000 Long-term liabilities 400,000 Total assets $3,310,000 Stockholders' equity 2,410,000 Total liabilities and stockholders' equity $3,310,000 It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,655,000. Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31, 2025, Conchita reports the following balance sheet information. Current assets $470,000 Noncurrent assets (including goodwill recognized in purchase) 2,170,000 Current liabilities (600,000) Long-term liabilities (400,000) Net assets $1,640,000 Finally, it is determined that the fair value of the Conchita Division is $1,850,000. (a) (b) Determine the impairment loss, if any, to be recorded on December 31, 2025. (If answer is zero, do not leave answer field blank. Enter O for the amount.) The impairment loss