Current Attempt in Progress

Sheridan Corporation acquired Linebrink Products on January $1,2025$ for $$7950000,$ and recorded goodwill of $$3925000$ as a result of that purchase. At December $31,2026,$ Linebrink Products had a fair value of $$6339000.$ The identifiable net assets of the Linebrink $($including goodwill$)$ had a carrying value of $$7300000$ at that time. Sheridan's $2026$ income statement will report an impairment loss on goodwill of

$$0$

$$961000$

$$1611000$

$$650000$

eTextbook and Media

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Attempts: $0$ of $2$ used