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the Impairment Loss (if any) .Prepare necessary journal entries to reflect a loss if applicable. Also prepare journal entries to reflect amortization expense for 2013 and 2014. Intangible Assets: December 31,2013 From a partial Balance Sheet showing Intangible Assets. Patent 6,500 (Net of $14,000 Accumulated Amortization) Goodwill 10,900 Total intangible assets $16,900 During 2013, the company was unsuccessful in defending its patent as a plaintiff in a civil infringement case. The result prompted management to properly test for a potential impairment loss. This resulted in a revision of estimated future cash flows from the patent of $2,000 per annum for the next 4 years . Original estimates had a cash flow projection from the patent of $2,500 for the next 5 years. The fair value of the patent as of year-end is $5,896