On July 1, 2017, Zhuang Corporation purchased the net assets of Shina Company by paying $415,000 cash and issuing a $50,000 note payable to Shina Company. At July 1, 2017, the statement of financial position of Shina Company was as follows: Cash Accounts receivable Inventory Land Buildings (net) Equipment (net) Trademarks (net) $75,000 Accounts payable 102,000 Shina, capital $300,000 239.000 98,000 $539,000 50,000 75,000 90,000 49.000 $539,000 The recorded amounts all approximate current values except for land (worth $55,000), inventory (worth $130,000), and trademarks (worthless). The receivables are shown net of an allowance for doubtful accounts of $12,000. The amounts for buildings, equipment, and trademarks are shown net of accumulated amortization of $16,000, $26,000, and $49,000, respectively. (d) (4 marks) Based on part (a), assume now that Zhuang is a public entity and tested its goodwill for impairment on December 31, 2018. The cash-generating unit's values (including goodwill) are as follows: Carrying amount Value in use Fair value Disposal costs $500,000 475,000 450,000 25,000 Determine if there is any impairment and prepare any necessary entry on December 31, 2018. (e) (2 marks) Based on part (a), discuss factors that Zhuang may have considered in deciding to pay total consideration of $465,000 for Shina