You Are Examining the Financial Statements of a Company $\quad$ $\quad$

Essay

You are examining the financial statements of a company. You observe patent amortization expense of $1.5 million and a loss on impairment of goodwill for $25 million.
Describe how the accountants arrived at these amounts. $\quad$$\quad$$\quad$ (a)
Interpret any information provided by these disclosures. $\quad$$\quad$$\quad$ (b)