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On May 1 , 2 0 1 5 , Zoe Inc. purchased Branta Corp. for $ 1 5 , 0 0 0 , 0 0

On May 1,2015, Zoe Inc. purchased Branta Corp. for $15,000,000 in cash. They only received
$12,000,000 in net assets. In 2016, the market value of the goodwill obtained from Branta Corp. was valued at
$4,000,000, but in 2017 it dropped to $2,000,000. Prepare the journal entry for the creation of goodwill and the
entry to record any impairments to it in subsequent years.

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