QUESTION 16 Following information relates to Arcon Company: BV of assets = $100,000 (including the BV of goodwill of $30,000); Market Value of the Business = $80,000 Fair Value of the net assets = $70,000 From the information given above, what is the implied value of goodwill? $20,000 $30,000 $0 $10,000 QUESTION 17 Following information relates to Arcon Company: BV of assets = $140,000 (including the BV of goodwill of $40,000); Market Value of the Business = $100,000 Fair Value of the net assets = $85,000 What amount of goodwill impairment should be recorded for Arcon? $25,000 $15,000 $40,000 $65,000