Question 9 45 pos On August 11, 2020, Southampe Ca acquired all of the common stock of Brighton Company, which became a division of Southangon Co. Brighton Company reported der fallewingsment of foc poution at the time of the acquisition Tirudhoe Company Statement of Financial Position Plata (ne 1) Lasity and Liabilities Share capital ondary $1,250,000 $1,050,000 Xetained earnings Inventory Receivables Cash 235,000 750,000 360.000 Accounts payable 970,000 375.000 Total assets $2.595.000 Total equity and liabilities $2.525.000 An appraisal indicated that the fair value of the inventory was $467,000 and the fair value of the plant assets was $1,450,000. The greed purchase price was $2.700,000, and this amunt was paid in ach to the previous owners of Brighton Company Required: Prepare the entry to record the purchase of Brightoo Company b Assume that the carrying amount of Brighton Company division's net assets, including goodwill is $2,900,000. The recoverable amount of the division is estimated to be $ 2,500,000 Prepare the mal entry to record the impairment loss (If any) on December 31, 2020. For the toolbar, press ALT+F10 (PC) or ALT-IN-F10 (Mac)