Simple Company acquired Open Company on Jan. 1. As part of the acquisition, $10,000 in goodwill was recognized; this goodwill was assigned to Simple Company reporting unit. During the year, the production reporting unit reported revenues of $13,000. Publicly traded companies operations similar to those of the Production unit had price-to-revenue ratios averaging 2.60. The fair values and book values of the assets and liabilities of the production reporting unit are as follows:

Description	Book Value	Fair Value
Identifiable Assets	$21,300	$20,500
Goodwill	$10,000	-
Liabilities	$7,600	$7,600

i.) What is the amount of the impairment loss, if any?

ii.) Record the journal entry if there is any impairment loss.