On May 31, 2011, Armstrong Company paid $3,500,000 to acquire Hall Corporation, which became a division of Armstrong. Hall reported the following balance sheet at the time of the acquisition:

Current assets $ 900,000 Current liabilities $ 600,000

Noncurrent assets 2,700,000 Long-term liabilities 500,000

Stockholders equity 2,500,000

Total liabilities and

Total assets $3,600,000 stockholders equity $3,600,000

It was determined that the fair value of the identifiable net assets of Hall at the date of the purchase (May 31, 2011) was $2,800,000.

Hall operated as a separate division throughout the remainder of 2011. At December 31, 2011, Hall division reported the following balance sheet:

Current assets $ 800,000

Noncurrent assets (including goodwill recognized in purchase) 2,400,000

Current liabilities (700,000)

Long-term liabilities (500,000)

Net assets $2,000,000

It was determined that the fair market value of the entire Hall division at December 31, 2011 was $2,100,000.

1. Determine the impairment loss, if any, to be recorded on December 31, 2011.