Pink Company had an equipment with a carrying amount of P470,000 at year end

Business Nov 10, 2021

Pink Company had an equipment with a carrying amount of P470,000 at year end. The following information was available at year end: Expected undiscounted net cash flows 420,000 Expected discounted net cash flows 400,000 Fair value, using similar asset 415,000 Fair value, assuming the asset is sold stand-alone 428,000 What is the impairment loss that should be reported in the income statement for the current year?