QUESTION 7 Castillo Del Muro Corporation acquired Klecka Products on January 1, 2015 for $950. The FV of Klecka's net assets was $800. At December 31, 2015, Klecka Products had a fair value of $680. The net identifiable assets of Klecka (excluding goodwill) had a fair value of $580 at that time. 1. How much goodwill did Castillo Del Muro record when Klecka Products was purchased? 2. What is the revised value of goodwill at December 31, 2015? $680 - $580 = 3. Calculate the amount of impairment that should be taken on the Klecka Products unit QUESTIONS Syed purchased the secret recipe in 2016. In late 2020, there was a material downturn in demand for the menu item. The following information is available for Syed Company's secret recipe Cost $180 Carrying amount 180 Expected future net cash flow 179 Fair value 175 Syed would record a loss on impairment of