Stockholders of Novak Company, Monty Company, and Martinez Company are considering alternative arrangements for a business combination. Balance sheets and the fair values of each company's assets on October 1, 2024, were as follows: Novak Company shares have a fair value of $50. A fair (market) price is not available for shares of the other companies because they are closely held. Fair values of liabilities equal book values. Assume, further, that the acquisition was consummated on October 1, 2024, as described above. However, by the end of 2025 , Novak was concerned that the fair values of one or both of the acquired units had deteriorated. To test for impairment, Novak decided to measure goodwill impairment using the present value of future cash flows to estimate the fair value of the reporting units (Monty and Martinez). Novak accumulated the following data: * Identifiable Net Assets do not include goodwill. Prepare the journal entry, if needed, to record goodwill impairment at December 31, 2025. Use FASB's simplified approach to test for goodwill impairment (assume that the qualitative test is satisfied or bypassed). (Credit account titles are automatically indented unt titles and enter 0 for the