On May 31, 2018, Armstrong Company paid $3,500,000 to acquire all of the common stock of Hall Corporation, which became a division of Armstrong. Hall reported the following balance sheet at the time of the acquisition:

Current assets $900,000
Current liabilities $600,000
Noncurrent assets 2,700,000
Long-term liabilities 500,000
Stockholders' equity 2,500,000
Total liabilities and Total assets $3,600,000
Stockholders' equity |$3,600,000

It was determined at the date of the purchase that the fair value of the identifiable net assets of Hall was $2,800,000. At December 31, 2015, Hall reports the following balance sheet information:

Current assets $800,000
Noncurrent assets (including goodwill recognized in purchase) 2,400,000
Current liabilities (700,000)
Long-term liabilities (500,000)
Net assets $2,000,000

It is determined that the fair value of the Hall division is $2,200,000. The recorded amount for Hall's net assets (excluding goodwill) is the same as fair value, except for property, plant, and equipment, which has a fair value of $200,000 above the carrying value.

Instructions:
(a) Compute the amount of goodwill recognized, if any, on May 31, 2018.
(b) Determine the impairment loss, if any, to be recorded on December 31, 2018.
(c) Assume that the fair value of the Hall division is $2,050,000 instead of $2,200,000. Prepare the journal entry to record the impairment loss, if any, on December 31, 2018.