General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant: Cost Accumulated depreciation General's estimate of the total cash flows to be generated by selling the products manufactured at its Arizona plant, not discounted to present value $51,500,000 16,100,000 18,800,000 The fair value of the Arizona plant is estimated to be $20,500,000 Required: 1. Determine the amount of impairment loss. 2. If a loss is indicated, prepare the entry to record the loss. 3. & 4. Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is (3) $20,500,000 instead of $18,800,000 and (4) $35,950,000 instead of $18,800,000 Reg 1 Reg 2 Req 3 and 4 Determine the amount of impairment loss. Impairment loss Reg 1 Req 2 Req 3 and 4 Determine the amount of impairment loss a $20,500,000 instead of $18,800,000 and ( a minus sign.) w Impairment loss 14. Impairment loss