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What amount of loss on impairment of goodwill

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Question - A&B Corporation acquired Shoe Corp. on January 1, 2019 for $8,000,000, and recorded goodwill of $1,250,000 as a result of that purchase. At December 31, 2019, the Shoe Division had a fair value of $6,580,000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $5,80,000 at that time. What amount of loss on impairment of goodwill should Gaylords record in 2019?

Reference no: EM132767071

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