Q2: Goodwill Impairment On July 1, 2020, Pilgrim Company paid $2,250,000 for all of the common stock of Maple, Inc. Maple's identifiable net assets had a fair value of $2,062,500 at that date. After acquisition, Maple was identified as a reporting unit and the goodwill from the acquisition was assigned to that reporting unit a. Compute the amount of goodwill, if any, from the adquisition. b. Over the remainder of the year, the new unit experienced significant operating losses, suggesting the need for testing of the goodwill for impairment. The fair value of the reporting unit was estimated to be $1,257,500 December 31. Maple's year-end balance sheet showed net assets of $1,400,000, including the goodwill. The fair value of the identifiable net assets of Maple at year-end was $1,245,000. Prepare the required journal entry if you find that goodwill is impaired