On January 1,2016 , a company purchases equipment for $200,000. The asset has a 10 -year life, and zero salvage value. The company uses IFRS for financial reporting. It depreciates its assets using straight-line depreciation and has chosen to report this class of assets fair value using the revaluation method. It uses the depreciation elimination method, and closes the revaluation surplus account when the asset is disposed (instead of on an annual basis). On December 31,2017 , the fair value of the asset is $190.000. On December 31,2020 , the fair value of the asset is $85,000. a. Complete the following table summarizing the amounts reported on the financial statements at December 31st for the years 2016-2020