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El Dorado Foods Incorporated owns a chain of speciality stores in the Pacific Northwest. Fecently,...

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Accounting

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El Dorado Foods Incorporated owns a chain of speciality stores in the Pacific Northwest. Fecently, four of the stores have experienced declining profits due to market saturation in the area. As a result, managerment gathered data about possible impairment of the assets of the stores. The information gathered was as follows: Book value: $17.5 mililion Fair value: $14,9 milition Undlscounted sum of future cash flows: $16,5 million Required: Determine the amount, if any, of the impaliment loss that Er Docado must recognize on these assets. Note: Enter your answer in millions rounded to 1 decimal ploce (i.e., 5,500,000 should be entered os 5,5)

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