4. (7 points) In 2020, Carter Company purchased Jones Manufacturing for $16 million. The balance sheet for Jones at acquisition is as below: Assets - $10,000,000 book value, $11,500,000 fair value Liabilities - $1,000,000 book value and fair value Equity- $9,000,000 As of December 2020, business conditions have changed and the products produced by Jones Manufacturing are under intense pricing pressure and the fair value of Jones have fallen to $14,000,000. a. Prepare the journal entry that Carter would have made in 2020 (show your calculation of goodwill) to record the purchase b. Is goodwill is impaired? If yes, prepare the entry to record the impairment.