Use this information to answer questions 8-11. On January 1, 2015, Sibley Corp. purchased company Z for $40,000 in cash and pald immediately Sibley assumed all of Company Z's assets and assumed Company Z's liabilities. Company Z has assets valued at $60,000 and liabilities valued at $50,000. Question 9 15 pts In 2016, Sibley Corp. must test for the impairment of the goodwill. Assume the only goodwill on Sibley Corp.'s books is from the acquisition of company Z. Sibley Corp. determined that the goodwill has an estimated future cash flow of $25,000 and a fair market value of $20,000. Does Sibley Corp. have to recognize an impairment? Why or why not? If an impairment must be recognized, compute the impairment loss and record the journal entry