Ivanhoe Company manufactures routers used in industrial modems. On May 15, 2017, Ivanhoe purchased a precision welding machine at a retail price of $76,800. Ivanhoe paid 5% sales tax on this purchase and hired a contractor to build a "clean" platform enclosure for the machine for $5,700. Ivanhoe estimates the machine will have a 5-year useful life, with a salvage value of :s depreciation and employs the "half-year" convention in accounting for partial-year depreciation. Ivanhoe's fiscal year ends on December 31 6,400 at the end of 5 years. Ivanhoe uses straight-line At what amount should Ivanhoe record the acquisition cost of the machine? Acquisition cost of the machine SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT How much depreciation expense should Ivanhoe recon Depreciation expense 2017 Depreciation expense 2018 d in 2017 and in 2018? At what amount will the machine be reported in Ivanhoe's balance sheet at December 31, 2018? Amount to be reported in balance sheet SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT During 2019, Ivanhoe's circuit board business is experiencing significant competition from companies with more advanced low-heat circuit boards. As a result, at June 30, 2019, Ivanhoe conducts an impairment evaluation of the stamping machine purchased in 2017. Ivanhoe determines that undiscounted future cash flows for the machine are estimated to be $48,000 and the fair value of the machine, based on prices in the re-sale market, to be $42,000 b0 Prepare the journal entry to record an impairment, if any, on the welding machine. (If no entry is required select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this