the product manufactured at the Arizona site, an impairment test is deemed appropriate. Management has a squad General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demandes Via 1. What 2. Assume that Collinsworth prepares cost to sell approximates fair value. What amount of impair t. t $32,500,000 14,200,000 15,000,000 the following information for the assets at the plant: Cost Accumulated depreciation General's estimate of the total cash flows to be generated by selling the products manufactured at its Arizona plant, not discounted to present value The fair value of the Arizona plant is estimated to be $11,000,000. Required: 1. Determine the amount of impairment loss, if any. 2. If a loss is indicated, prepare the entry to record the loss. 3. Repeat requirement 1 assuming that the estimated undiscounted sum of future cash flows is $12,000,000 instead of $15,000,000