D. On May 31, 2020, Roddick Company paid $3,400,000 to acquire all of the ordinary shares of Bolt Corporation, which became a division of Roddick Bolt reported the following statement of financial position at the time of the acquisition Non-current assets Equity $2,500,000 $2,700,000 Non-current liabilities 500,000 600.000 Current assets Total assets 900.000Current liabilities $3.600.000 Total equity and liabilities $3.600.000 It was determined at the date of the purchase that the fair value of the identifiable net assets of Boit was $2,800,000. On December 31, 2020, Bolt reports the following statement of financial position information Current assets Non-current assets including goodwill recognized in purchase) Current abilities Non-current abilities Net assets $800,000 2,400,000 (700,000 1500.000 $2.000.000 It is determined that the recoverable amount value of the Bolt Division is $2,100,000, Required Compute the amount of goodwill recognized, if any, on May 31, 2020 5 mark) Prepare the journal entry to record the impairment loss, if any, on December 31, 2020 and justify your answer Dr. Less on impairment Cr. Good Justification Since the recoverable amount of Bon Division he carrying value at the net assets an impairment tas recorded less than greater than (Total 30 marks)