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 $44, 500,000 15, 400, 000 17, 400,000 products manufactured at its Arizona plant, not discounted to present value The fair value of the Arizona plant is estimated to be $17.000,000. Required: 1. &2. Determine the amount of impairment loss. If a loss is indicated, where would it appear in General Optic's multiple-step income statement? 3. If a loss is indicated, prepare the entry to record the loss 4. & 5. Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is $17,000,000 instead of $17,400,000 and $29,250,000 instead of $17.400,000 below Complete this question by entering your answers in the tabs Req 1 and 2 Req 3 Rea 4 and S Det income statement? (Enter your answer In whole dollars Ruq3 > 4. & 5. Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is $17,000,000 Instead of $17.,400,000 and $29,250,000 instead of $17.400,000 Complete this question by entering your answers in the tabs below Req 1 and 2 If a loss is in required" in the first account field. Enter your answers in whole dollars.) entry to record the loss. (If no entry is r eth Journal entry worksheet Next>