On January 1, 2018, the following data was gathered regarding revaluation of the equipment: Cost 8,000,000 4,500,000 9 years 6.125,000 Equipment Accumulated Depreciation Age of asset Fair Value On January 2, 2019 the equipment was sold for 5,500,000 cash. Required: Fill-out the table below and prepare the journal entries for 2018 and the sale in 2019 using (present necessary solutions): a. Proportional method b. Elimination method Equipment Accumulated Depreciation CA/FVIRS Cost Replacement Cost Depreciation 2018 Balance of Revaluation Surplus as of December 31, 2018 Gain on Sale of equipment on January 2, 2019 Appreciation (RC-Cost)