Problem 9-14A Depreciation and impairment losses LO1,2,3,5 CHECK FIGURE: 2. Total assets $271,920 Safety-First Company completed all of its October 31, 2023, adjustments in preparation for preparing its financial statements, which resulted in the following trial balance. Account Accounts payable Accounts receivable Accumulated depreciation, building Accumulated depreciation, equipment Accumulated depreciation, furniture Page 743 Balance $11.220 19,500 79.200 37,400 20.900 Allowance for doubtful accounts Building 880 136,400 11,000 Cash 90,200 Equipment Expenses, including cost of goods sold 761.200 50,600 Furniture 105,000 Land 35.200 Merchandise inventory Note payable Sales Tarifa Sharma, capital Unearned revenues 85,800 904.200 2,480 7,920 Other information: 1. All accounts have normal balances. 2. $26,400 of the note payable balance is due by October 31, 2024. The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Asset Land Building Equipment Furniture Recoverable Value $136,400 105,600 28,600 15,400 Required 1. Prepare the entry (entries) to record any impairment losses at October 31, 2023. Assume the company recorded no impairment losses in previous years 2. Prepare a classified balance sheet at October 31, 2023.