TranscribedText: Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of division's assets, $28.1 million; fair value of division's assets, $21.8 million; undiscounted sum of estimated future cash flows generated from the division's assets, $28.8 million. What amount of impairment loss should C&R report in its income statement? Note: Enter your answers in whole dollars, and not in millions. Impairment loss Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of division's assets, $30.3 million; fair value of division's assets, $22.9 million; undiscounted sum of estimated future cash flows generated from the division's assets, $25.9 million. What amount of impairment loss should C&R report in its income statement? Note: Enter your answer in millions rounded to 1 decimal place (i.e., 3,300,000 should be entered as 3.3). mpaimentioss [ [milon

Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of division's assets, $28.1 million; fair value of division's assets, $21.8 million; undiscounted sum of estimated future cash flows generated from the division's assets, $28.8 million. What amount of impairment loss should C&R report in its income statement? Note: Enter your answers in whole dollars, and not in millions. Impairment loss