Presented below is information related to equipment owned by Splish Company at December $31,2025.$

$\backslash$table$[[$Cost$,$$$7,150,000$

$1.$ Prepare the journal entry $($if any$)$ to record the impairment of the asset at december $312025.$

$2.$ Prepare the jourbal entry to record depreciation expense for $2026,$ use straight line method.

$3.$ The fair value of the equiptment at december $31,2026$ is $$3,660,000.$ Prepare the journal entry $($if any$)$ necessary to record this increase in faie value