SmartSports Ltd is an entity that specialises in manufacturing sports footwear for women. It has aggressively undertaken a strategy of buying out other companies with competing products. These companies were liquidated, and the assets and liabilities were brought into SmartSports Ltd$.$At $30$ June $2021,$ SmartSports Ltd reported the following assets in its statement of financial position:ACC$4254($F$)/$ Page $5$ of $7$CashSports and other inventory productsBrand Crossbow ShoesShoe factory at costAccumulated depreciation factoryMachinery for manufacturing shoes Accumulated depreciation machinery Goodwill on acquisition of competing companies$$20,000180,000160,000820,000(120,000)640,000(240,000)40,0001,500,000$Because of the competition from overseas as customers pursue a strategy of buying online rather than visit SmartSports Ltds stores, SmartSports Ltd assessed its impairment position at $30$ June $2021.$ The indicators suggested that an impairment loss was probable. SmartSports Ltd calculated a recoverable amount of its company of $$1,420,000.$Required:Compute the impairment loss and the carrying amount of each asset at $30$ June $2021.(6$ marks$)$