Pointer Company acquired the voting common stock of Setter Industries on January 1, 2017 for $35,000. The $30,000 excess of acquisition cost over Setter's book value was allocated as follows:

\begin{array}{l}\begin{array} { | l | r | l | } \hline \text { Inventories } & \$ ( 2,500 ) & \text { FIFO (sold in 2017) } \\\hline \text { Plant \& equipment } & ( 5,000 ) & 10 \text { years, straight-line } \\\hline \text { Internet domain name } & 6,000 & \text { 3 years, straight-line } \\\hline \text { Customer order backlog } & 1,000 & 2 \text { years, straight-line } \\\hline & 30,500 & \begin{array} { l } \text { Cumulative impairment, 2017-2019 } \\= \$ 200 \\2020 \text { impairment } = \$ 150\end{array} \\\text { Goodwill } & & \\\hline \begin{array} { l } \text { Total excess of acquisition cost } \\\text { over book value }\end{array} &\$ 30,000 & \\ \hline\end{array}\\\\\text { Setter's book value on January 1, } 2017 \text { was: }\\\\\begin{array} { l r } \text { Capital stock } & \$ 500 \\\text { Retained earnings } & 4,550 \\\text { Accumulated other comprehensive income } & 150 \\\text { Treasury stock } & ( 200 ) \\\text { Total } & \$ \underline { 5,000 }\end{array}\end{array}

Setter reported 2020 net income of $5,000 and other comprehensive income of $80. Its retained earnings balance on December 31, 2019 is $9,200, and its December 31, 2019 balance for accumulated other comprehensive income is $200. On its own books, Pointer accounts for its investment in Setter using the complete equity method.
Required
a. Calculate equity in net income of Setter for 2020, reported on Pointer's books.
b. Prepare the journal entry or entries Pointer makes on its own books in 2020 to account for its investment in Setter.
c. Calculate the balance for Investment in Setter at December 31, 2020, reported on Pointer's books.

Which Statement Is True Concerning IFRS Goodwill Impairment Reporting

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