record transaction

In evaluating assets for impairment, P³ had determined due to the sensitivity and lack of sense of humor of younger generations, that Garys Gag Garage, may be less valuable than originally believed. The current fair value of the net assets of G³ is $8,200,000. The fair value of G³s net assets without goodwill is $7,480,000 and the current carrying value of G³ net assets is $8,560,000.