Repaso Fina X Mail -MARI X HARAS PT 2 Curso: CON X New Tab Mail - MARI X Haras Pt 3 x CONT4001 online.upmp X Question 9 X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activ... M Paused Depreciacin y menoscabo 9 10 points Saved Collinsworth Limited, a U.K. company, prepares its financial statements according to International Financial Reporting Standards. Late in its 2024 fiscal year, a significant adverse change in business climate indicated to management that the assets of its appliance division may be impaired. The following data relate to the division's assets: Book value Undiscounted sum of estimated future cash flows Present value of future cash flows cBook Fair value less cost to sell (determined by appraisal) Print References ( in millions) 220 210 150 145 Required: 1. What amount of impairment loss, if any, should Collinsworth recognize? 2. Assume that Collinsworth prepares its financial statements according to U.S. GAAP and that fair value less cost to sell approximates fair value. What amount of impairment loss, if any, should Collinsworth recognize? Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 1. Impairment loss 2. Impairment loss million million Mc Graw < Prev 9 of 12 Next Hill Help Save & Exit Submit Check my work