On June 11, 2019, Majone Co aquired all of the common stock of Goblen Company, which became din of Mast Ca Golden reported the ongement of financial pontion at the me of the action Golden Comp Statement of Financial Pounion Ass Equity and Lasbilities Plant assets (not) $1,250,000 Share capital ordinary $1,045,000 aventory Receivables 370,000 Retained earnings 1,000,000 750,000 Accounts payable 675.000 Cash Total assets 350.000 $2.720.000 Total equity and liabilities $2.720.000 An appraisal indicated that the fair value of the inventory was $375,000 and the fair value of the plant assets was $1,450,000. The agreed purchase price was $3,000,000, sod thin amount was paid in cash to the previous owners of Golden Company Required: a. Prepare the entry to record the purchase of Golden Company b. Assume that the carrying amount of Golden Company division's net assets, including goodwill is $2,800,000. The recoverable amount of the division is estimated to bo $3,200,000. Prepare the journal entry to record the impairment loss (If any) on December 31, 2019.