On July $31,2025,$ Crane Company paid $$2,950,000$ to acquire all of the common stock of Conchita Incorporated, which became a division $($a reporting unit$)$ of Crane. Conchita reported the following balance sheet at the time of the acquisition.Current assets$$720,000$Current liabilities$$520,000$Noncurrent assets$2,650,000$Long$-$term liabilities$420,000$Total assets$$3,370,000$Stockholders' equity$2,430,000$Total liabilities and stockholders' equity$$3,370,000$It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $$2,650,000.$ Over the next $6$ months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December $31,2025,$ Conchita reports the following balance sheet information.$$420,000$Current assetsNoncurrent assets $($including goodwill recognized in purchase$)2,300,000(640,000)$Current liabilities$(420,000)$Long$-$term liabilities$$1\mathrm{.}660\mathrm{.}000$Net assets