Current Attempt in Progress The information that follows relates to equipment owned by Coronado Limited at December 31, 2020: Cost $8,100,000 Accumulated depreciation to date 900,000 Expected future net cash flows (undiscounted) 6,300,000 Expected future net cash flows (discounted, value in use) 5,715,000 Fair value 5,580,000 Costs to sell (costs of disposal) 45,000 Assume that Coronado will continue to use this asset in the future. As at December 31, 2020, the equipment has a remaining useful life of four years. Coronado uses the straight-line method of depreciation. 0 Repeat the requirements in (a) above assuming that Coronado is a public company that follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation December 31, 2020 Loss on Impairment Accumulated Impairment Losses - Equipment December Depreciation Expense 31, 2021 Accumulated Depreciation - Equipment December 31, 2021 Accumulated Impairment Losses - Equipment Recovery of Loss from Impairment Debit 5535000 1428750 Credit 5535000 1428750