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In 2017, Dewey Inc had acquired Cheatam Co and recorded goodwill of $490 million as...

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Accounting

In 2017, Dewey Inc had acquired Cheatam Co and recorded goodwill of $490 million as a result. The net assets (including goodwill) from Deweys acquisition of Cheatam Co. had a 2014 year-end book value of $1,160 million. Dewey assessed the fair value of Cheatam at this date to be $1,400 million, while the fair value of all of Cheatams identifiable tangible and intangible assets (excluding goodwill) was $1,100 million. The amount of the impairment loss that Dewey would record for goodwill at the end of 2018 is

$0

$190 million

$300 million

None of these is correct

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