please help

On July 1, 2015, Karen Company purchased equipment for $325,000; the estimated useful life was 10 years and the expected salvage value was $40,000. Straightline depreciation is used. OnJuIy 1, 2019, economic factors cause the market value of the equipment to decrease to $90,000. On this date, Karen evaluates if the equipment is impaired and estimates future cash flows relating to the use and diSposal of the equipment to be $195,000. a. Is the equipment impaired atJuly 1, 2019? 0 The equipment is impaired V b. Ifthe equipment is impaired atJuIy 1, 2019, calculate the amount of the impairment loss. Impairment loss = $ 171,000 X c. If the equipment is impaired atJuly 1, 2019, prepare thejournal entry to record the impairment loss. Generaljournal July 1 Impairment Loss on Equipment 3 Accumulated Depreciation Equipment To record impairment loss on equipment