Answer this question in an excel/word file and upload the file when completed. Name your file in your last name and student ID. Harmony Ltd has a number of business operations that represent separate cash-generating units. At 30 June 2023, Harmony Ltd has determined that one of the cash- generating units may be impaired. The carrying amounts of the assets of this cash-generating unit, valued pursuant to the cost model, are as follows: Assets: $ Cash 40,000 Motor vehicles 600,000 Less: accumulated depreciation (200,000) Land 200,000 Inventory 55,000 Goodwill 12,000 Carrying amount of cash-generated unit 707,000 The directors of Harmony Lid estimate that, at 30 June 2023, the fair value less costs to sell of the cash-generating unit amounts to $615,000, while the value in use is $660,000. The inventory is recorded at lower of cost and net realisable value. The land has a fair value less costs to sell of $190,000. Required: i. Calculate the impairment loss that Harmony Ltd needs to recognise for this cash-generating unit as at 30 June 2023, and determine how the loss is to be allocated between the assets of the cash-generating unit. Prepare any necessary journal entries to recognise the impairment loss. Show all workings and provide explanations to support your answer where necessary. (9 marks) ii. Critically analyse how professional judgement is relevant when determining the impairment loss for the above