5. Presented below is information related to equipment owned by Spruill Company at December 31, 2022. Cost 6,000,000 Accumulated depreciation to date Value-in-use 4,000,000 600,000 Fair value less costs to sell 2,800,000 Assume that Spruill will continue to use this asset in the future. As of December 31, 2022, the equipment has a remaining useful life of 4 years with a zero salvage value. Instructions a) Calculate the impairment of the asset at December 31, 2022, and prepare the journal entry (if any) in c). b) Calculate depreciation expense for 2022 and prepare the journal entry in c). c) Prepare the journal entry (if any) necessary to record the increase in asset's value if the fair value of the equipment at December 31, 2023, is 3,200,000.