Twilight Corporation acquired Out-of-Sight Products on January 1, 2014 for $6,400,000, and recorded goodwill of $1,200,000 as a result of the purchase. At December 31, 2015, the Out-of-Sight Products Division had a fair value of $5,440,000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $4,540,000 at that time.

REQUIRED: Determine the following

Unless all supporting schedules and computations for every answer are presented in good traceable order, there will be NO credit

(a)$__________________The implied goodwill at December 31, 2015.

(b)$__________________The impairment (if any) of goodwill at December 31, 2015.