On September 2017, Princes Corporation Acquired Royal Mile Incorporated for a Cash

Multiple Choice

On September 2017, Princes Corporation acquired Royal Mile Incorporated for a cash payment of $864,300.At the time of the purchase, Royal Mile's statement of financial position showed assets of $890,600, liabilities of $469,700, and owners' equity of $420,900.The fair value of Royal Mile's assets is estimated to be $1,162,900.Assume that Princes Corporation is a public company and that the goodwill was allocated entirely to one cash-generating unit (GU) .Two years later, the CGU's carrying amount is $3,530,300, the value in use is $3,458,200, and the fair value less costs to sell is $3,058,200.
Goodwill is

A) not impaired.
B) impaired by $72,100.
C) impaired by $472,100.
D) Not enough information is provided to assess impairment.