Calia Corporation acquired Joseph Industries on April 15, 20…
Calia Corporation acquired Joseph Industries on April 15, 2018, and recorded goodwill of $2,500,000 as a result of the purchase. During an evaluation of their goodwill in conjunction with preparing their year-end financial statements for December 31, 2021, Calia noted the following: Joseph Industries had a fair value of 4,500,000 The net identifiable assets of Joseph Industries (including goodwill) had a carrying value of 4,800,000 What amount of goodwill related to the acquisition of Joseph Industries will Calia Corporation have on their balance sheet after any impairment is recorded as of December 31, 2021.