Steel Magnolia Incorporated purchased a trademark 7 years ago for $278,000. Steel Magnolia believed the trademark would have an indefinite life. At the end of 2020, the corporation believes the fair value of the trademark is $182,000. Required: Record the impairment loss for Steel Magnolia.

Aproject currently generates sales of $14 million, variable costs equal 50% of sales, and fixed costs are $2.8 million. the firm’s tax rate is 40%. assume all sales and expenses are cash items. (a). what are the effects on cash flow, if sales increase from $14 million to $15.4 million? (input the amount as positive value. enter your answer in dollars not in (b) what are the effects on cash flow, if variable costs increase to 60% of sales? (input the amount as positive value. enter your answers in dollars not in millions). cash flow (increase or decrease) by $