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 $49,500,000 15,900,000 18,400,000 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 The fair value of the Arizona plant is estimated to be $19,500,000 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) $19,500,000 instead of $18,400,000 and (4) $34,250,000 instead of $18,400,000. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 4 Req 2 Determine the amount of impairment loss. (Negative amount should be indicated by a minus sign.) Impairment loss Req 1 Req 2 Req 3 and 4 If a loss is indicated, prepare the entry to record the loss. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet K > 1 Record the impairment loss. Note: Enter debits before credits. General Journal Debit Event Credit 1 View general journal Record entry Clear entry Req 1 Req 3 and 4 Req 2 Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is (3) $19,500,000 instead of $18,400,000 and (4) $34,250,000 instead of $18,400,000. (Negative amounts should be indicated by a minus sign.) 3 Impairment loss 4. Impairment loss