please answer the follow question. The following is net asset information for the Dhillon Division of Blue Spruce Inc.:CashAccounts receivableProperty, plant, and equipment (net)GoodwillLess: Notes payableNet assetsNET ASSETSAs at December 31, 2023(in millions)(a)Your answer is correct.Book ValueDate$51Dec. 31,20232182,645213Loss on Impairment(2,640)$487The purpose of the Dhillon Division (also identified as a reporting unit or cash-generating unit) is to develop a nuclear-poweredaircraft. If successful, travelling delays that are associated with refuelling could be greatly reduced, and operational efficiency wouldincrease significantly.Fair ValueExcludingGoodwillTo date, management has not had much success and is deciding whether a writedown of goodwill is appropriate at this time.Management has prepared the following estimates for the reporting unit or cash-generating unit:1. Undiscounted future net cash flows are approximately $422 million.2. Future value in use is approximately $482 million.3. Sale of the unit would yield $357 million and selling costs would total $8 million.$51Account Titles and Explanation2182,821Under ASPE, determine if there is any impairment and prepare any necessary entry on December 31, 2023. (Credit account titlesare automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the accounttitles and enter o for the amounts. List debit entry before credit entry. ENTER AMOUNTS IN MILLIONS.)(2,640)Accumulated Impairment Losses - GoodwillDebit130Credit130 On December 31, 2024, it is estimated that the reporting unit's fair value has increased to $422 million. Under ASPE, prepare thejournal entry, if any, to record the increase in fair value. (Credit account titles are automatically indented when the amount isentered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entrybefore credit entry. ENTER AMOUNTS IN MILLIONS.)(c)Date(d)Dec. 31,2024eTextbook and MediaAccount Titles and ExplanationList of AccountsDateNo EntryYour answer is correct.Dec. 31,2023No EntryUnder IFRS, determine if there is any impairment and prepare any necessary entry on December 31, 2023. (Credit account titles areautomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titlesand enter o for the amounts. List debit entry before credit entry. ENTER AMOUNTS IN MILLIONS.)DateDec. 31,2024Account Titles and ExplanationLoss on ImpairmenteTextbook and MediaAccumulated Impairment Losses - GoodwillList of AccountsDebitAccount Titles and ExplanationDebitCredit5DebitAttempts: 1 of 3 used0CreditOn December 31, 2024, it is estimated that the cash-generating unit's fair value has increased to $422 million. Under IFRS,prepare the journal entry, if any, to record the increase in fair value. (Credit account titles are automatically indented when the amountis entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debitentry before credit entry. ENTER AMOUNTS IN MILLIONS.)5Attempts: 1 of 3 usedCredit

Impairment loss is the reduction in the value of an individual asset or of a cash generating unit.…

The following is net asset information for the Dhillon Division of Blue Spruce Inc.: Cash Accounts receivable Property, plant, and equipment (net) Goodwill Less: Notes payable NET ASSETS As at December 31, 2023 (in millions) Net assets Book Value $51 218 2,645 213 (2,640) $487 Fair Value Excluding Goodwill $51 218 2,821 (2,640) The purpose of the Dhillon Division (also identified as a reporting unit or cash-generating unit) is to develop a nuclear-powered aircraft. If successful, travelling delays that are associated with refuelling could be greatly reduced, and operational efficiency would increase significantly. To date, management has not had much success and is deciding whether a writedown of goodwill is appropriate at this time. Management has prepared the following estimates for the reporting unit or cash-generating unit: 1. Undiscounted future net cash flows are approximately $422 million. 2. Future value in use is approximately $482 million. 3. Sale of the unit would yield $357 million and selling costs would total $8 million.