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On June 1, 2019, Feeney Company paid $3,500,000 to acquire all of the common stock of Halogen Corporation, which became a division of Feeney Company. Halogen reported the following balance sheet at the time of acquisition. It was also determined that at the date of purchase, June 1, 2019 that the current assets were undervalued by $300,000 Current assets Noncurrent assets $ 900,000 Current liabilities 2,700,000 Long term liabilities Stockholders' Equity Total Liabilities and $3,600,0000 Stockholders' Equity $ 600,000 500,000 2.500.000 Total Assets $3,600,000 1. Compute the amount of goodwill recognized, if any, on June 1, 2019. 2. Seven months later, at December 31, 2019, Halogen reports the following balance sheet information: $ 800,000 2,400,000 Current assets Noncurrent assets (including goodwill recognized in purchase) Current liabilities Long-term Liabilities Net Assets (700,000) (500,000) $2,000,000 It is determined that the fair value of the Halogen division is $1,950,000. The recorded amount for Halogen's net assets is the same as fair value, except for property, plant and equipment, which has a fair value of $300,000 above the carrying value. Determine the impairment loss, if any, to be recorded on December 31, 2019