On January 1, 2020, Z Corporation acquired C Company for $450,000 cash. At the time of purchase. The fair value of C's net assets are estimated to be $350,000 I On December 31, the following information is available about Company C: the fair value of C is estimated to be $360,000. The carrying value of C's net identifiable assets, including the goodwill, at year-end is $375,000. Prepare Vinson's journal entry, if necessary, to record impairment of goodwill Instructions (a) Compute the amount of goodwill acquired by Z. (b) Prepare Z's journal entry, if necessary, to record impairment of goodwill. You must explain why a journal entry is needed. If a journal entry is not needed explain your decision