On January 1, 20X1, Porta Corporation purchased Swick Companys net assets and assigned goodwill of $80,900 to Reporting Division K. The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Carrying Amount Fair Value Cash $ 14,900 $ 14,900 Inventory 56,900 71,900 Equipment 179,000 199,000 Goodwill 80,900 Accounts Payable 30,900 30,900 Required: On December 31, 20X3, Porta must test goodwill for impairment. Determine the amount of goodwill to be reported for Division K and the amount of goodwill impairment to be recognized, if any, if Division Ks fair value is determined to be $349,000. $289,000. $269,000.

	Amount of Goodwill	Goodwill Impairment
a.	$80,900	$0
b.
c.