un January 1, Porter paid $550,000 to purchase all of the outstanding stock of Sam and recorded goodwill of 595,000 Complete the requirements of the following independent scenarios. Show your work Part A: At December 31, the book value of the Sam unit, including goodwill, is $700,000. The fair value of the Sam unit is $705,000. Prepare the journal entry to record the impairment loss. If no entry is required, briefly explain why in the area provided for the journal entry. Part B: At December 31, the book value of the Sam unit, including goodwill, is $725,000. The fair value of the Sam unit is $705,000 Prepare the journal entry to record the impairment loss. If no entry is required, briefly explain why in the area provided for the journal entry