Help with part B.

Exercise 12-14 (Part Level Submission) Presented below is net asset information related to the Kingbird Division of Santana, Inc AS OF DECEMBER 31, 2017 211 Property, plant, and equipment (net2, 212 Less Notes payable Net assets The purpose of the Kingbird Division 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 $440 million. Management has also received an offer to purchase the division for $330 million. All identifiable assets' and liabilities' book and fair value amounts are the same Your answer is correct. 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 enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Click if yeu would like te Show Werk for this question Open Show Work Attempta of 15 used At December 31, 2018, it is estimated that the division's fair value increased to $342 million. Prepare the journal entry to record this increase in fair value. (If no entry is required, select No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Click if yes would Eke te Show Work for this question Open Show Work Attempts ef 15 used SAVE FORTER