Presented below is the information related to equipment owned by the Charlton Company December 31, 2019. Cost $16,000,000 Accum Depreciation to date 8,000,000 Expected future net cash flows 7,000,000 Fair Value - 6,000,000 Assume that Charlton will continue to use this asset in the future. As of December 31, 2019, the equipment has a remaining useful life of 5 years, Instruction - Provide your answers in the text box provided and label them A) B) etc: A. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2019.(5 pts) B. Prepare the journal entry to record depreciation expense for 2020. (5 pta C. The fair value of the equipment at December 31, 2020. is $7.000.000. Prepare the journal entry (if any) necessary to record this increase in fair value. (5pts)