36. Goodwill Impairment Test Assume the equity method Equity Investment account relating to a subsidiary has a reported balance of $8,785,000, including $840,000 of Goodwill. The fair value of the subsidiary is $7,875,000. The fair value of the subsidiary's individually identifiable net assets is $7,525,000. The subsidiary has only one reporting unit, which is the same as the overall entity. a. Describe when companies are required to conduct a quantitative goodwill impairment test. b. For this fact set, determine whether Goodwill is impaired and, if so, the amount of impairment. c. Prepare the required journal entry if you determine Goodwill is impaired