Please explain why the equipment and furniture is wrong values in the classified balance sheet and what values should it be with work.

Safety-First Company completed all of its October 31,2020 , adjustments in preparation for preparing its financial statements, which resulted in the following trial balance. Other information: 1. All accounts have normal balances. 2. $28,000 of the note payable balance is due by October 31, 2021. Required: 1. Prepare the entry (entries) to record any impairment losses at October 31, 2020. Assume the company recorded no impairment losses in previous years. (If no entry is required for a transaction, select "No journal entry required" in the first account field.) 2. Prepare a classified balance sheet at October 31,2020 . (Be sure to list the current assets in the order of liquidity and fixed assets in order of land, building, equipment, and furniture. Enter all amounts as positive values.) Liabilities Current liabilities