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For each year determine the amount of goodwill impairment, if any. On January 1, 2013, Porsche Company acquired 100% of Saab Company's stock for $451,730

image text in transcribedimage text in transcribed For each year determine the amount of goodwill impairment, if any.

On January 1, 2013, Porsche Company acquired 100% of Saab Company's stock for $451,730 cash. The fair value of Saab's identifiable net assets was $376,340 on this date. Porsche Company decided to measure goodwill ble prices of similar businesses to estimate the fair value of the reporting unit (Saab). The information for these subsequent years is as follows: Year 2014 2015 2016 Present Value of Future Cash Flows $400,630 $399,280 $351,490 Carrying Value of Saab's Identifiable Net Assets* $328,930 $319,740 $301,980 Fair Value of Saab's Identifiable Net Assets $338,310 $341,880 $326,020 *Identifiable net assets do not include goodwill. 2014 2015 2016 Impairment loss $0

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