You are an equity analyst at Kowloon Bay Equities and are following the stock of a screwdriver manufacturer called TST Tools Inc.

On October 31^st, 2019, TST Tools Inc. has 5,000 shares outstanding and based on your analysis of its performance, you expect TST Tools Inc. to report an earnings per share of $4.00 for the quarter ended on December 31^st, 2019.

On November 30^th, 2019 TST Tools Inc. files an 8-K announcement, in which it says that it has to take a one-time impairment charge for its Goodwill in Mong Kok Inc. of $8,000.

On December 31^st, 2019, TST Tools reports an earnings per share of $2.50 for the quarter of October 1^st, 2019 to December 31^st, 2019.

Would you change your expectation of TST Tools. Inc.s EPS after November 30^th, 2019 and by how much? (2 points)

Did TST Tools meet your expectations on December 31^st, 2019? In one sentence, please explain why or why not? (2 points)

Why did TST Tools Inc. record a big Goodwill charge of $8,000 on November 30^th, 2019? Please explain in less than one sentence (3 points)