In 2015,a corporation purchased a small business for $250,000.The market value of the small business's assets was $400,000,and the market value of the liabilities was $200,000.The corporation recorded goodwill of $50,000 at the time of acquisition.At the end of 2016,it measured the goodwill and found it had a remaining fair value of only $20,000.At year-end 2016,the corporation will ________.

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The corporation will record an impairment loss. This is because goodwill has decreased in value since its acquisition, and the remaining fair value is only $20,000, indicating that it has been impaired. The impairment loss will be equal to the difference between the original amount of goodwill ($50,000) and its remaining fair value ($20,000), or $30,000.

In 2015,a Corporation Purchased a Small Business for $250,000