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On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $490 million. The fair value of Harman's identifiable tangible and intangible assets totaled $561 million, and the fair value of liabilities assumed by Pesky was $210 million. Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31, 2021. Management has provided the following information: Fair value of Harman, Inc. $ 470 million Fair value of Harman's net assets (excluding goodwill) 410 million Book value of Harman's net assets (including goodwill) 494 million Required:

1. Determine the amount of goodwill that resulted from the Harman acquisition.

2. Determine the amount of goodwill impairment loss that Pesky should recognize at the end of 2021, if any.

3. If an impairment loss is required, prepare the journal entry to record the loss.

Req 1 and 2 Req 3 Determine the amount of goodwill that resulted from the Harman acquisition and the amount of goodwill impairment loss that Pesky should recognize at the end of 2021, if any. (Negative amounts should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)). $ 139 Goodwill million Goodwill impairment loss 2$ 79 million Req 3 Req 1 and 2 If an impairment loss is required, prepare the journal entry to record the loss. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)). Event General Journal Debit Credit No Loss on Impairment of Goodwill 79 Goodwill 79

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