Q4. (25 marks) Imagine you are planning to raise capital for the firm, you are wary about shareholders, which accounting ratios could address the concerns of those stakeholders regarding efficiency of the assets and cashflow? Explain in detail. I Q1. (25 marks) Calculation of and journal entries for impairment of goodwill Gandah Corporation purchased a division five years ago for $ 3 million. The division has been identified as a reporting unit that is cash generating under IFRS. Management is reviewing the division for impairment of goodwill and has estimated the fair value of the reporting unit to be $ 3.2 million and the unit's value in use to be $ 3.3 million. In addition, there would be $ 75,000 in direct costs should the company decide to sell. The carrying amounts of the division's net assets, including the associated goodwill of $1,350,000, are listed below. Carrying Amount of Net Assets including Goodwill Cash $ 300,000 Receivables 450,000 Inventory 1,050,000 Property, plant, and equipment (net) 1,200,000 Goodwill 1,350,000 Less: Accounts and notes payable (750.000 Net assets, at carrying amounts 5.3.600.000 Instructions Determine if goodwill is impaired and provide the related journal entries, if any, under both ASPE and I IFRS