Required. 1. Prepare the entry (entires) to record any impairment losses at October 31,2020. Assume the company recorded no impairment losses in previous years.2. Prepare a classified balance sheet at October 31,202Could you please explain the solution of the question, if is it possible attach me the document of balance sheet,

Required 1. Prepare the entry to record the purchase of the replacement blade. 2. Calculate the total depreciation expense to be recorded on Machine #5027 for 2020. 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, 2020, adjustments in preparation for preparing its finan- cial statements, which resulted in the following trial balance. Balance Account $ 11,220 Accounts payable ................... 19,800 Accounts receivable. Accumulated depreciation, building .......... 79,200 Accumulated depreciation, equipment................ 37,400 Accumulated depreciation, furniture ........................ 20,900 Allowance for doubtful accounts ..... 880 Building .... 136,400 Cash...." . ..... 11,000 Equipment....... 90,200 Expenses, including cost of goods sold ............ 761,200 Furniture ..... 50,600 Land ..... 105,600 Merchandise inventory ........................" 35,200 Note payable....... 85,800 Sales ...... ...... 904,200 Tarifa Sharma, capital............". 62,480 Unearned revenues ........... 7,920 Other information: 1. All accounts have normal balances. 2. $26,400 of the note payable balance is due by October 31, 2021. The final task in the year-end process was to assess the assets for impairment, which resulted in the follow schedule. Asset Recoverable Value Land .... $136,400 Building .... 105,600 Equipment........... 28,600 Furniture. 15,400 576