WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45.4...
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WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45.4 million, of which $15.8 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of SCC, $40.8 million; book value of SCCs net assets (including goodwill), $43.2 million. What amount of impairment loss should WebHelper recognize? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
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