Question 18 of 20 0.33/1 Current Attempt in Progress Presented below is net asset information related to the Windsor Division of Santana, Inc. Windsor Division Net Assets As of December 31, 2020 (in millions) Cash $72 205 Accounts receivable Property, plant, and equipment (net) Goodwill Less: Notes payable Net assets 2.616 201 (2.611) $493 The purpose of the Windsor 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 (deemed an appropriate fair value). All identifiable assets and liabilities book and fair value amounts are the same. (a) Your answer is partially correct. Prepare the journal entry to record the impairment at December 31, 2020. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Loss on Impairment 152000000 Goodwill 152000000