3. Presented below is information related to equipment owned by Ramiz Co. at December 31, 2015 and after recording depreciation expense: Cost DH 8,100,000 Accumulated depreciation to date 900,000 Expected future net cash flows 6,300,000 Net selling price 4,500,000 Assume that Ramiz Co. will continue to use this asset in the future. As of December 31, 2015 the equipment has a remaining useful life of 4 years. Required: Assuming that the benchmark treatment under IFRS GAAP & the required treatment under US GAAP: a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2015. b) Prepare the journal entry to record depreciation expense for 2016