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A company reported $6 million of goodwill in last year’s statement of financial position. How should the company account for the reported goodwill in the current year? A. Determine whether fair value of the reporting unit is less than the carrying amount and report an impairment loss on goodwill in the income statement. B. Determine the current year’s amortizable amount and report the current year???s amortization expense. C. Determine whether the fair value of the reporting unit is greater than the carrying amount and report the recovery of any previous impairment in the income statement. D. Determine whether the fair value of the reporting unit is greater than the carrying amount and report a gain on goodwill in the income statement. |