Albers Company acquires an 80% interest in Barker Company on January 1, 2011, for $850,000. The following determination and distribution schedule is prepared at the time of purchase: Company implied fair value Parent price(80%) NCI value (20%) fair value of subsidiary $1,062,500 $850,000 $212,500 less book value of interest acquired total equity $600,000 $600,000 $600,000 interest acquired 80% 20% book value $480,000 $120,000 excess of fair value or book value $462,500 $370,000 $92,500 Adjustments of identifiable accounts: Adjustment Amortization per year Life Worksheet key bulidings $200,000 $10,000 20 debit D1 goodwill 262,500 debit D2 total $462,500 Albers uses the simple equity method for its investment in Barker. As of December 31,2015, Barker has earned $200,000 since it was purchased by Albers. Barker pays no dividends during 2011-2015. On December 31,2015, the following values are available: Fair value of Barker's identifiable net assets (100%) $900,000 Estimated fair value of Barker company (net of liabilities) 1,000,000 Determine if goodwill is impaired. If not explain your reasoning. If so calculate the loss on impairment