· Period 1 Balance Sheet (Dec 31, 2022):

• Current Assets: $150,000
• Current Liabilities: $80,000

· Period 2 Balance Sheet (Dec 31, 2023):

• Current Assets: $180,000
• Current Liabilities: $100,000

·Assess Goodwill Impairment: Requirements:

• Review the balance sheet for any goodwill assets.
• Discuss the process of assessing goodwill impairment and the accounting treatment for impaired goodwill.
• Explain how impairment of goodwill can impact financial statements and investor perceptions of a company's financial health.