CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER BACK NEXT Exercise 12-14 (Part Level Submission) Presented below is net asset information related to the Carlos Division of Santana, Inc. CARLOS DIVISION NET ASSETS AS OF DECEMBER 31, 2017 (IN MILLIONS) $50 200 2,600 200 (2.700) $350 Cash Property, plant, and equipment (net) Goodwill Less: Notes payable Net assets refueling could be substantially reduced. Many other The purpose of the Carlos Division is to develop a nudear-powered aircraft. If successful, traveling delays associated with benefits would also occur. To date, management has not had much success and is deciding whether a write-down at this time is appropriate. Management estimated ts future net value amounts are the same. assets' and liabilities book and fair cash flows from the project to be $400 million. Management has also received an offer to purchase the division for $335 million. Prepare the journal entry to record the impairment at December 31, 2017. (If no entry is required, select "No Entry" for the account titles and Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation 0830 pm 25-02/201 1N1018E:rved. A Division of