On January 1, 2017, Brighton Company acquired the net assets of Dakota Company for $2,212,000...
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On January 1, 2017, Brighton Company acquired the net assets of Dakota Company for $2,212,000 cash. The fair value of Dakota's identifiable net assets was $1,834,000 on this date. The information for the subsequent years were as shown in the below table. Year 2018 2019 Fair Value of the Reporting Unit (Dakota) $1,960,000 $1,960,000 Carrying Value of Dakota's Identifiable Net Assets $1,624,000 $1,568,000 Fair Value Dakota's Identifiable Net Assets $1,666,000 $1,694,000 12. Based on the above information, what amount would be reported by Brighton as goodwill at the end of 2018?* $0 $84,000 $294,000 $378,000 None of the above 13. Based on the above information, what amount would be reported by Brighton as goodwill impairment loss in 2019?* $84,000 $98,000 $266,000 $294,000
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