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In 2022, Alliant Corporation acquired Centerpoint Incorporated for $422 million, of which $62 million was allocated to goodwill. At the end of 2024, management has
In 2022, Alliant Corporation acquired Centerpoint Incorporated for $422 million, of which $62 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test:
| Fair value of Centerpoint Incorporated | $ 330 | million |
|---|---|---|
| Book value of Centerpoints net assets (excluding goodwill) | 298 | million |
| Book value of Centerpoints net assets (including goodwill) | 360 | million |
- Determine the amount of goodwill reported in the year-end 2024 balance sheet.
- Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $392 million
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