In 2012, Antle Inc

question 114

Multiple Choice

In 2012, Antle Inc. had acquired Demski Co. and recorded goodwill of $245 million as a result. The net assets (including goodwill) from Antle's acquisition of Demski Co. had a 2013 year-end book value of $580 million. Antle assessed the fair value of Demski at this date to be $700 million, while the fair value of all of Demski's identifiable tangible and intangible assets (excluding goodwill) was $550 million. The amount of the impairment loss that Antle would record for goodwill at the end of 2013 is:

• A)$150 million.
• B)$95 million.
• C)$0.
• D)None of the above is correct.

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