E12.17 (LO 6, 10) (Intangible Impairment) The following information is for a copyright owned by Lighting Designs Corp., a private entity, at December 31, 2020. Lighting Designs Corp. applies ASPE. Cost $4,300,000 Carrying amount 2,150,000 Expected future net cash flows (undiscounted) 2,000,000 Fair value 1,600,000 Assume that Lighting Designs Corp. will continue to use this copyright in the future. As at December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years. E12.18 (LO 6, 10) (Intangible Impairment) Refer to the information provided in E12.17, but now assume that Lighting Designs Corp. is a publicly accountable company. At December 31, 2020, the copy- right's value in use is $1,850,000 and its selling costs are $100,000. Instructions a. Prepare the journal entry, if any, to record the asset's impairment at December 31, 2020. b. Prepare the journal entry to record amortization expense for 2021 related to the copyright. c. The copyright's fair value at December 31, 2021, is $2.2 million. Prepare the journal entry, if any, to record the increase in fair value