Goodwill Impairment E1-15 On January 1, 20X1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $80,000 to Reporting Division K. The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Fair Value Carrying Amount $ 14,000 71,000 190,000 $ 14,000 56,000 170,000 80,000 30,000 Cash Inventory Equipment Goodwill 30,000 Accounts Payable Required On December 31, 20X3, Porta must test goodwill for impairment. Determine the amount c goodwill to be reported for Division K and the amount of goodwill impairment to be recognizec if any, if Division K's fair value is determined to be a. $340,000. b. $280,000. c. $260,000