Exercise 12-14 (Part Level Submission) Presented below is net asset information related to the Spish Brothers Division of Santana, Inc Splish Brothers Division Net Assets As of December 31, 2020 (in millions) Accounts receivable Property, plant, and equipment (net) 202 2,613 Less Notes payable Net asetts (2.600) The purpose of the Spis Brothers Divon is to develop a nuclear powered aircraft. If successful, traveling delays associated with refueling could be substantially reduced. Many other 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 its future net cash flows from the project to be 1440 million Management has also received an offer to purchase the division for $335 million (deemed an appropriate for value). Al identifiable assets and labesties' book and fair value amounts are the same (a) Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select titles are automatically indented when amount is entered. Do not indent manually.) the amount. Cred account Account Titles and Explanation Deb Credit Click if you would like to show Work for this question Open Show Work