& EXI Chec E1-15 Goodwill Impairment LO 1-5 On January 1, 20x1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $81,000 to Reporting Division K. The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Cash Inventory Equipment Goodwill Accounts Payable Carrying Amount $ 15,000 57,000 180,000 81,000 31,000 Fair Value $ 15,000 72,000 200,000 5 31,000 Required: On December 31, 20X3, Porta must test goodwill for impairment. Determine the amount of goodwill to be reported for Division K and the amount of goodwill impairment to be recognized, if any, If Division K's fair value is determined to be a. $350,000 b. $290,000 c. $270,000. Amount of Goodwill Goodwill Impairment $ 81,000 $ 0 b C 23