On January 1, 20X1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $80,300 to Reporting Division K. The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Cash Inventory Equipment Goodwill Accounts Payable Carrying Amount $ 14,300 56,300 173,000 80,300 30,300 Fair Value $ 14,300 71,300 193,000 30,300 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 K's fair value is determined to be a. $343,000. b. $283,000. c. $263,000. Amount of Goodwill Goodwill Impairment a b. C