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Question - On September 30, the Simpson Company reported the following information on its financial statements:
Total current assets $650,000
Total long-term assets $1,080,000
Total current liabilities $684,000
Total long-term debt $803,000
What is the amount of the stockholder's equity in the Simpson Company?
$277,000
$927,00
$3,217,000
$243,000
Prepare the journal entry to record the permanent impairment of goodwill.
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