1 Wicker Corporation operates a manufacturing plant in California. Due to a change in business climate, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant: 2 3 $58.500.000 26,400,000 4 5 Cost Accumulated depreciation Wicker's estimate of the total cash flows to be generated by selling the products manufactured at its California plant, not discounted to present value 6 30.000.000 7 8 9 The fair value of the California plant is estimated to be $24,000,000. 10 11 Instructions: Determine the amount of impairment loss, if any. If a loss is indicated, prepare the entry to record the loss. 12 13 14