I want to know the answer of 'principles (a), (b), (c)'

II. Accounting, Analysis, and Principles Electroboy Enterprises, Inc. operates several stores throughout northem Belgium and the southern part of the Netherlands. As part of an operational and financial reporting review in a response to a downturn in it markets, the company's management has decided to perform an impairment test on five stores (combined). The five stores sales have declined due to aging facilities and competition from a rival that opened new stores in the same markets. Management has developed the following information concerning the five stores as of the end of fiscal 2015 Original Cost 36 million Accumulated depreciation 10 million Estimated remaining useful life 4 years Estimated expected future annual cash flows (not discounted) 4.0 million per year Appropriate discount rate 5% Fair value less cost of disposal 23 million Accounting a) Determine the amount of impairment loss, if any, that Electroboy should report for fiscal 2015 and the carrying amount at which Electroboy should report the five stores on its fiscal year-end 2015 statement of financial position. Assume that the cash flows occur at the end of each year. (b) Repeat part (a), but instead assume that (1) the estimated remaining useful life is 10 years, (2) the estimated annual cash flows are 2,720,000 per year, and (3) the appropriate discount rate is 6% Analysis Assume that you are a financial analyst and you participate in a conference call with Electroboy management in early 2016 (before Electroboy closes the books on fiscal 2015). During the conference call, you learn that management is considering selling the five stores, but the sale will not likely be completed until the second quarter of fiscal 2016. Briefly discuss what implications this would have for Electroboy's 2015 financial statements. Assume the same facts as in part (b) above. Principles Electroboy management would like to know the accounting for the impaired asset in periods subsequent to the impairment, (a) Suppose conditions improve in its markets. Can the assets be written back up? Briefly discuss the conceptual arguments for this accounting (b) Briefly describe how accounting for impairment differs from accounting for revaluation. (c) Define cash generating units and briefly discuss conceptual arguments for accounting of impaired intangible assets