pls answer everything correctly. will like and thumbs up

only the last 2 slides are a different question and it was a wrong answer from a chegg tutor. the firsf question can still be answered. thanks

On July 31, 2020, Sandhill Company paid $2,850,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Sandhill. Conchita reported the following balance sheet at the time of the acquisition Current assets $750,000 Current liabilities $600,000 Noncurrent assets 2,550,000 long-term liabilities 500,000 Total assets $3,300,000 Stockholders' equity 2,200,000 Total liabilities and stockholders' equity $3,300,000 it was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,645,000. Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31, 2020, Conchita reports the following balance sheet information Current assets Noncurrent assets (including goodwill recognized in purchase) Current liabilities Long term liabilities Net assets $430,000 2.260,000 (680,000) (480,000) $1,530,000 Finally, it is determined that the fair value of the Conchita Division is $1850,000 Assume that fair value of the Conchita Division is $1,466,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31, 2020. (If answer is zero, do not leave answer field blank. Enter for the amount.) The impairment loss $ d. Prepare the journal entry to record the impairment loss, if any, and indicate where the loss would be reported in the income statement. Ccredit account titles are automah cally indented when amount is entered, do not indent manually. If no entry is required, select "NO Entry for the account titles nd enter o for the amounts.) Account ties & Explanation Debt credit The loss will be reported in income as a Seperate line item before the Subtotal Oriole Co organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020 and 2021. Intangible Assets 7/1/20 8-year franchise; expiration date 6/30/28 $50,400 10/1/20 Advance payment on laboratory space (2-year lease) 24,000 12/31/20 Net loss for 2020 including state incorporation fee, $2,500, and related legal fees of organizing $6,500 (all fees incurred in 2020) 14,800 1/2/21 Patent purchased (10-year life) 82,000 3/1/21 Cost of developing a secret formula (Indefinite life) 79,000 4/1/21 Goodwill purchased (indefinite life) 276,800 6/1/21 Legal fee for successful defense of patent purchased above 11,960 9/1/21 Research and development costs 148,000 Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2021, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Account Titles and Explanation Franchises Debit 50400 Credit Prepaid Rent 24000 Retained Earning 9000 Debit Credit Account Titles and Explanation Franchises 50400 Prepaid Rent 24000 Retained Earnings 9000 Patents 93960 Research and Development Expense 227000 Goodwill 276800 Intangible Assets 686960 (To clear the Intangible Assets)