Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:

	Carrying Amount				Fair Value
Cash	$	20,000			$	20,000
Inventory		35,000				40,000
Equipment		125,000				160,000
Goodwill		60,000
Accounts Payable		30,000				30,000

31) Based on the preceding information, what amount of goodwill will be reported for this division after any necessary impairments if the fair value of the entire reporting unit is determined to be $200,000?

A) $0

B) $60,000

C) $30,000

D) $50,000

32) Based on the preceding information, what amount of goodwill impairment will be recognized for this division if its fair value is determined to be $195,000?

A) $15,000

B) $30,000

C) $60,000

D) $55,000

33) Based on the preceding information, what amount of amount of goodwill impairment will be recognized for this division if its fair value is determined to be $245,000?

A) $0

B) $5,000

C) $60,000

D) $55,000