Marine Entity (Marine) is a retail business that sells motorboats. Marine is currently evaluating th

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Marine Entity (Marine) is a retail business that sells motorboats. Marine is currently evaluating three of its boats for impairment. The original cost, selling price, and estimated cost to sell of the three boats are given below. Which, if any, of the boats are impaired? (5 points)

Boat Original

Cost Selling

price Estimated

Cost to sell

1

$5,000

$6,000

$500

2

10,000

15,000

3,000

3

15,000

16,000

2,000 None of the boats are impaired Boat 1 Boat 2 Boat 3 Boats 1 and 3.