Conditions of impairment have been identified. The company has established that there are two CGU's: the merchandising division and the construction division. The assets of the merchandising division include Building 1 and Equipment 1 and 3. The assets of the construction division include Building 2 and the remaining equipment. Information on each of these assets is provided below: Asset Building 1 Building 2 Equipment 1 Equipment 3 Equipment 4 Equipment 5 Equipment 6 Equipment 7 Residual Value $500,000 200,000 100,000 40,000 100,000 30,000 Carrying Value at Dec 31, 20x5 $4,700,000 3,236,752 433,500 223,125 595,000 306,000 585,706 555,000 The following additional data has been provided. Merchandising Division 5,200,000 500,000 Construction Division $5,000,000 450,000 Fair value of assets Estimated costs to sell Future cash flow budget 20x6 20x7 20x8 20x9 Beg of 20x10 end of 20x24 $500,000 500,000 500,000 500,000 400,000 $250,000 350,000 450,000 500,000 600,000 The relevant discount rate is 6%. Required For each of the two CGUs, prepare the impairment journal entry (if any) at December 31, 20x5. Assume the company follows IFRS