On June 1, 2019, Rollin Company paid $3,500,000 to acquire all of the common stock of Stark Corporation, which became a division of Rollin Company. Stark reported the following balance sheet at the time of acquisition. It was also determined that at the date of purchase, June 1, 2019 that the current assets were undervalued by $300,000.

1. Compute the amount of goodwill recognized, if any, on June 1, 2019.
2. Seven months later, at December 31, 2019, Stark reports the following balance sheet information:

It is determined that the fair value of the Stark division is $1,950,000. The recorded amount for Starks net assets is the same as fair value, except for property, plant and equipment, which has a fair value of $200,000 above the carrying value. Determine the impairment loss, if any, to be recorded on December 31, 2019.