Glassen Inc. operates several divisions in the consumer products industry. Glassen Inc. is decentralized but maintains some significant head office assets that are NOT allocated to any particular division. Management at Glassen Inc. is reviewing its head office assets and various divisions for potential impairment losses at year end. The following information is available concerning the firewall server system, a head office asset: Cost Accumulated depreciation Undiscounted future cash flows Value in use Fair value Costs of disposal $150,000 (50,000) 99,000 95,000 96,000 2,000 The following information is available for the men's health products (MHP) division, a cash-generating unit: Assets allocated to the MHP division: Property, plant, and equipment Intangible assets Goodwill Total $1,525,000 425,000 250,000 $2.200.000 MHP division fair value less disposal costs MHP division value in use $1,900,000 $1,875,000 Required: a) Prepare journal entries to reflect any impairment losses necessary for the firewall server system under: i. IFRS (3 marks) ii. ASPE (3 marks) b) Calculate the impairment loss on the MHP division under IFRS. (2 marks) c) Show how the MHP division impairment loss should be allocated to the various assets of the division. (4 marks)