6. Metal Company acquired recycling equipment on January 1, 20X2, at a cost of $120,000, has an estimated useful life of 10 years, an estimated salvage value of $8,000, and is depreciated using the straight-line method. Assuming that the equipment was sold for $90,000 in cash on December 31, 20X3, record the appropriate journal entry for the disposal of the equipment. 7. Intangible Company purchased a Little Company on January 1, 20x1 for $2,000,000. Little Company reports assets of $3,000,000 and stockholder's equity of $1,000,000. How much goodwill should Intangible Company record as a result of this purchase? 8. Intangible Company has a patent on their balance sheet at $200,000. The expected future cash flows from this patent is $150,000, and the fair market value of the patent is $180,000. Record the journal entry for impairment, if necessary. If no entry is required, explain why