Presented below is information related to equipment owned by Marigold Company at December 31, 2020. Cost $9,360,000 Accumulated depreciation to date 1,040,000 Expected future net cash flows 7,280,000 Fair value 4,992,000 Assume that Marigold will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 5 years. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020.

Fortress international, a large conglomerate, procures a few component parts from external suppliers and also manufactures some of the key raw materials in its own subsidiaries. aside from this, the company does not solely depend on outside distributors to reach its customers. in fact, it has its own retail stores to distribute its products. in this scenario, which of the following alternatives to vertical integration is fortress international applying? a. concentric integration b. taper integration c. horizontal integration d. conglomerate integration