i posted on Chegg previously but 406 million was incorrect

View previous attempt Check my work 7 On May 28, 2024, Pesky Corporation acquired all of the outstanding common stock of Harman, Incorporated, for $550 million. The fair value of Harman's identifiable tangible and intangible assets totaled $603 million, and the fair value of liabilities assumed by Pesky was $177 million. 2.22 points Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31, 2024. Management has provided the following information Fair value of Harman, Incorporated 470 million $530 million Prin Fair value of Harman's net assets (excluding goodwill) Book value of Harman's net assets (including goodwill) 546 million Coannan References Required: 1. Determine the amount of goodwill that resulted from the Harman acquisition 2. Determine the amount of goodwill impairment loss that Pesky should recognize at the end of 2024, if any 3. If an impairment loss is required, prepare the journal entry to record the loss Complete this question by entering your answers in the tabs below. Reg 1 and 2 Beg 3 If an impairment loss is required, prepare the journal entry to record the loss. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field Enter your answers in millions (1, 10,000,000 should be entered as 10) View transaction View journal entry worksh