Presented below is net asset information related to the skysong division, inc.
skysong division
net assets
as of december 31, 2017
(in millions)
cash $64
accounts receivable 213
property, plant, and equipment (net) 2,608
goodwill 214
less: notes payable (2,603)
net assets $496
the purpose of the skysong division is to develop a nuclear-powered aircraft. if successful, traveling delays associated with refueling could be substantially reduced. many other benefits would also occur. to date, management has not had much success and is deciding whether a write-down at this time is appropriate. management estimated its future net cash flows from the project to be $430 million. management has also received an offer to purchase the division for $335 million. all identifiable assets’ and liabilities’ book and fair value amounts are the same.
required:
a. prepare the journal entry to record the impairment at december 31, 2017. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)

Companies in the u.s. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. in 2011 hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select a scatter diagram with the number of cars in service as the independent variable. b. what does the scatter diagram developed in part (a) indicate about the relationship between the two variables? c. use the least squares method to develop the estimated regression equation (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct