foxx corp purchased 75 of the outstanding shares of rabb ltd on january 1 year 3 at a cost of 117000

The equipment had an estimated remaining useful life of 6 years on January 1, Year 3, and the software was to be amortized over 10 years. Foxx uses the cost method to account for its investment. The testing for impairment at December 31, Year 6, yielded the following fair values:
Software …… $ 8,000
Goodwill …… 20,000
The impairment loss on these assets occurred entirely in Year 6. Amortization expense is grouped with administrative expenses, and impairment losses are grouped with miscellaneous expenses. The parent’s share of the goodwill noted above is $15,000.
The following are the financial statements of Foxx Corp. and its subsidiary Rabb Ltd. as at December 31, Year 6: