LO 1-5 E1-18 LO 1-5 E1-19 Determine the amount of goodwill that Proft should report at December 31, 20X7. Show how you computed it. Goodwill Measurement Plasher Company has a reporting unit resulting from an earlier business combination. The report- ing unit's current assets and liabilities are Cash Inventory Land Carrying Amount $ 30,000 Fair Value 70,000 $ 30,000 100,000 30,000 60,000 Buildings 210,000 230,000 Equipment 160,000 170,000 Goodwill 150,000 Notes Payable 100,000 100,000 Required Determine the amount of goodwill to be reported and the amount of goodwill impairment, if any, if the total fair value of the reporting unit is estimated to be a. $580,000. b. $540,000. c. $500,000. d. $460,000. Computation of Fair Value