Chadwick Enterprises, Incorporated, operates several restaurants throughout the Midwest. Three of its restaurants located in the center of a large urban area have experienced declining profits due to declining population. The companys management has decided to test the assets of the restaurants for possible impairment. The relevant information for these assets is presented below at the end of 2024.

Book value	$ 9.9	million
Estimated undiscounted sum of future cash flows	5.7	million
Fair value	5.2	million

Required:

Determine the amount of the impairment loss, if any, reported in the 2024 income statement.

Determine the reported book value of the assets in the year-end 2024 balance sheet.

Determine the amount of the impairment loss assuming that the estimated undiscounted sum of future cash flows is $10.2 million and fair value is $6.7 million.

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