Ramshare Company acquired equipment at the beginning of 2015 at a cost of $135,000. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At December 31, 2015, Ramshare compiled the following information related to this equipment: $116,000 Expected future cash flows from use of the equipment Present value of expected future cash flows from use of the equipment Fair value (net selling price), less costs to dispose 100,000 96,600 a. Determine the amount at which Ramshare should carry this equipment on its December 31, 2015, balance sheet and the amount, if any, that it should report in net income related to this inventory using (1) U.S. GAAP and (2) IFRS. (Input all values as positive numbers.) U.S. GAAP IFRS Depreciation Impairment loss Equipment. December 31, 2015