Hullett Enterprises acquired Owens, Inc. on January 1, 2021. The $450,000 excess of cost over book value of Owens' net assets was partly attributable to a patent undervalued by $200,000. The patent has a 10-year life. The remaining excess is considered goodwill. The separate financial a. Prepare all necessary consolidation entries for 2025 consolidated financial statements. b. Now assume that at year-end a goodwill impairment test is conducted before the consolidated statements are issued. The estimated fair value of the subsidiary is $1,500,000. The fair value of the identifiable net assets is $1,300,000. Prepare any journal entries resulting from the test. Hullett Enterprises acquired Owens, Inc. on January 1, 2021. The $450,000 excess of cost over book value of Owens' net assets was partly attributable to a patent undervalued by $200,000. The patent has a 10-year life. The remaining excess is considered goodwill. The separate financial a. Prepare all necessary consolidation entries for 2025 consolidated financial statements. b. Now assume that at year-end a goodwill impairment test is conducted before the consolidated statements are issued. The estimated fair value of the subsidiary is $1,500,000. The fair value of the identifiable net assets is $1,300,000. Prepare any journal entries resulting from the test