on of Unempl... ST" Connect - OBO WhatsApp R tutorias accounting irs transcript NO Solicitud FAFSA ... WPUNJ WP Connect... C My Orders | Chegg... Rutger Path: P Words:0 QUESTION 14 On January 1, 2019, A Corp purchased 100 % of the outstanding common stock of Z Corp for $3,500,000. At that time the book value of Z Corp's net assets totaled $2,975,000. All assets and liabilities of Z Corp had book values equal to their fair values except for: Book Value Fair Value Remaining Life Furniture 500,000 700.000 4 years Customer Lists o 300,000 6 years Buildings 1,000,000 800,000 10 years Net income for the individual companies for 2019 was as follows: A Corp- Net Income $ 750,000 z Corp Net Loss 300.000 As a result of Z Corp's loss, A Corp recorded an impairment loss in 2019 equal to 25% of the goodwill recorded at acquisition Compute A Corp's Consolidated Net Income for 2019: (Show all work) Arial 3 (12pt) * -E- T- Paragraph 1 T' T. ATHLOSS Ch Save All Answers on of Unempl... ST" Connect - OBO WhatsApp R tutorias accounting irs transcript NO Solicitud FAFSA ... WPUNJ WP Connect... C My Orders | Chegg... Rutger Path: P Words:0 QUESTION 14 On January 1, 2019, A Corp purchased 100 % of the outstanding common stock of Z Corp for $3,500,000. At that time the book value of Z Corp's net assets totaled $2,975,000. All assets and liabilities of Z Corp had book values equal to their fair values except for: Book Value Fair Value Remaining Life Furniture 500,000 700.000 4 years Customer Lists o 300,000 6 years Buildings 1,000,000 800,000 10 years Net income for the individual companies for 2019 was as follows: A Corp- Net Income $ 750,000 z Corp Net Loss 300.000 As a result of Z Corp's loss, A Corp recorded an impairment loss in 2019 equal to 25% of the goodwill recorded at acquisition Compute A Corp's Consolidated Net Income for 2019: (Show all work) Arial 3 (12pt) * -E- T- Paragraph 1 T' T. ATHLOSS Ch Save All Answers