Please show all your work for the calculations so I do not get confused on where you get the numbers from and I can also learn along as well. Thank you so much.

Instructions Grand Champion Inc. purchased America's Sweethearts Corporation on January 1, 2019. At the time, America's Sweethearts had the following assets and liabilities (stated at fair value): Cash $63,000 Accounts receivable 142,000 185,000 Inventory Property, plant, and equipment 300,000 Patent 65,000 220,000 Accounts payable Notes payable 325,000 Grand Champion paid $900,000 for America's Sweethearts. Assume that America's Sweethearts is a reporting unit of Grand Champion. At the end of 2020, America's Sweethearts has a fair value of $750,000 and a book value of $900,000, which includes any goodwill recorded. Of this fair value, $360,000 is attributable to identifiable assets net of (or identifiable net assets) liabilities. Required: Calculate the impairment loss of goodwill (if any) and record the appropriate journal entry. CHART OF ACCOUNTS Grand Champion Inc. General Ledger ASSETS REVENUE 411 Sales Revenue 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 189 Accumulated Depreciation 194 Goodwill EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 891 Impairment Loss on Goodwill 910 Income Tax Expense LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings Analysis Additional Instruction 1. Calculate the impairment loss of goodwill (if any). $ General Journal 2. Record the appropriate journal entry on December 31, 2020. General Journal Instructions How does grading work? PAGE 1 GENERAL JOURNAL Score: 16/25 POST. REF. DEBIT CREDIT DATE ACCOUNT TITLE Dec. 31 Impairment Loss on Goodwill 1 Goodwill