In 2021, Dooling Corporation acquired Oxford Company for $250 million, of which $50 million was recorded as goodwill. Dooling tests for goodwill impairment at the end of each fiscal year. At the end of 2021, Dooling's accountants provide the following information: Book value of Oxford company (including goodwill) ..................... $234.5 million fair value of Oxford Company’s tangible and intangible assets (excluding goodwill) ........................................................... $204.9 million fair value of Oxford Company .................................................. $225 million how much goodwill impairment loss should Dooling Corporation report at the end of 2021?

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A: Under net asset method any amount paid in access of net assets is treated as goodwill.

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A: Step 1 Taxable income is the income which is subject to tax jurisdictions.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.