QUESTION 2: PART 1 Hawk Lid has identified an Indication of Impairment and is conducting an impairment review, The carrying amount of cash generating unit is as follows on 31 Dec, 2020: Goodwill 900.000 Property 1600,000 Planit and equipment 1,000,000 Computers 600,000 Patents 300,000 Net current assets (net 1450,000 realizable value) 4,850,000 The whole of the company is considered to be a single cash-generating unit (CGUY If a company continues its operations, it is estimated to receive $900,000 net cash-flows annually at the end of the year for the duration of next 4 years. The discount rate is calculated to be 7. Fair value less cost to sell for CGU is estimated to be $2,200,006. The net realizable value of the property is $1,300,000 only Patents are worthless now due to discontinuation of one of the product lines, Note 1: Discount and Annuity Table Discount rate at Annuity at 7%% 7% 0.935 0.935 0,873 1.808 0.816 2.624 0.763 3.387 Y5 0.713 4.1 Required Calculate whether an impairment loss has occurred and if so, prepare a revised schedule for Hawk Lid as at 31 Dec 2020. Show your workings fully clearly showing impairment allocation and revised carrying values (20 marks)