On May 31, 2018, Armstrong Company paid $3,500,000 to acquire all of the common stock of Hall Corporation, which became a division of Armstrong. Hall reported the following balance sheet at the time of the acquisition:

Cuurent assets	$900,000	Current liabilities	$600,000
Non-current assets	2,700,000	Long-term liabilities	500,000
		Shareholders' equity	2,500,000
		Total liabilities and
Total assets	3,600,000	stockholders' equity	$3,600,000

It was determined at the date of the purchase that the fair value of the identifiable net assets of Hall was $3,100,000.

At December 31, 2018, Hall reports the following balance sheet information:

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 is determined that the fair value of the Hall division is $2,200,000.

3. Assume that the fair value of the Hall division is $1,950,000 instead of $2,200,000. Prepare the journal entry to record the impairment loss, if any, on December 31, 2018. Show your workings.