On May 31, 2021, Belize Unicomer Limited paid \$3,500,000 to acquire all of the common stock of Tropigas, which became a division of Belize Unicomer Limited. Tropigas reported the following balance sheet at the time of the acquisition: It was determined at the date of the purchase that the fair value of the identifiable net assets of Tropigas was $3,100,000. At December 31, 2021, Tropigas reports the following balance sheet information: It is determined that the fair value of the Tropigas division is $2,200,000. Instructions 1. Compute the amount of goodwill recognized, if any, on May 31, 2021. 2. Determine the impairment loss, if any, to be recorded on December 31, 2021. 3. Assume that the fair value of the Tropigas division is $1,950,000 instead of $2,200,000. Prepare the journal entry to record the impairment loss, if any, on December 31, 2021