Let's assume that the Goodwill balance gets completely impaired at the end of 2024. Record the...

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Let's assume that the Goodwill balance gets completely impaired at the end of 2024. Record the journal entry to impair the Goodwill balance. Based on the information below, calculate the applicable ratios with and without impairment. Without With Impairment Impairment Consolidated Net Income (Loss) 47,000 (4,000) Consolidated Assets, 1/1/24 2,056,138 2,056,138 Consolidated Assets, 12/31/24 2,295,945 2,244,945 Consolidated Equity, 1/1/24 1,724,605 1,724,605 Consolidated Equity, 12/31/24 1,777,105 1,726,105 Consolidated Liabilities 518,840 518,840 ROA (net income/ average assets) ROE (net income/ average equity) Debt to Equity (liabilities/equity) Answer the following questions: a. What is the effect on each ratio when all of the acquisition related goodwill is considered impaired? b. What are some potential upsides and downsides when an impairment loss is recorded? c. Who is impacted by a goodwill impairment loss being recorded? Let's assume that the Goodwill balance gets completely impaired at the end of 2024. Record the journal entry to impair the Goodwill balance. Based on the information below, calculate the applicable ratios with and without impairment. Without With Impairment Impairment Consolidated Net Income (Loss) 47,000 (4,000) Consolidated Assets, 1/1/24 2,056,138 2,056,138 Consolidated Assets, 12/31/24 2,295,945 2,244,945 Consolidated Equity, 1/1/24 1,724,605 1,724,605 Consolidated Equity, 12/31/24 1,777,105 1,726,105 Consolidated Liabilities 518,840 518,840 ROA (net income/ average assets) ROE (net income/ average equity) Debt to Equity (liabilities/equity) Answer the following questions: a. What is the effect on each ratio when all of the acquisition related goodwill is considered impaired? b. What are some potential upsides and downsides when an impairment loss is recorded? c. Who is impacted by a goodwill impairment loss being recorded?