On January 1, 2013, Porsche Company acquired the net assets of Saab Company for $450,080 cash. The fair value of Saabs identifiable net assets was $374,890 on this date. Porsche Company decided to measure goodwill impairment using the present value of future cash flows to estimate the fair value of the reporting unit (Saab). The information for these subsequent years is as follows: For each year determine the amount of goodwill impairment, if any. Please show work

Exercise 2-10 On January 1, 2013, Porsche Company acquired the net assets of Saab Company for $450,080 cash. The fair value of Saab's identifiable net assets was $374,890 on this date. Porsche Company decided to measure goodwill impairment using the present value of future cash flows to estimate the fair value of the reporting unit (Saab). The information for these subsequent years is as follows: Present Value Year of Future Cash Flows 2014 $400,450 2015 $400,360 2016 $349,520 Carrying Value of Saab's Identifiable Net Assets* $329,922 $320,530 $299,430 Saab's Identifiable Net Assets $340,616 $344,553 $324,660 * Identifiable net assets do not include goodwill. (a) |x Your answer is incorrect. Try again. For each year determine the amount of goodwill impairment, if any. 2014 2015 2016 59834 558077 55807 24860 Goodwill impairment