Safety-First Company completed all of its October 31, 2020, adjustments in preparation for preparing its financial statements, which resulted in the following trial balance.

Account	Balance
Accounts payable	$	11,620
Accounts receivable		20,200
Accumulated depreciation, building		79,600
Accumulated depreciation, equipment		37,800
Accumulated depreciation, furniture		21,300
Allowance for doubtful accounts		920
Building		136,800
Cash		11,400
Equipment		90,600
Expenses, including cost of goods sold		761,600
Furniture		50,800
Land		105,800
Merchandise inventory		35,400
Note payable		86,000
Sales		904,160
Tarifa Sharma, capital		62,880
Unearned revenues		8,320

Other information:

All accounts have normal balances.

$26,800 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 following schedule.

Asset	Recoverable Value
Land	$	136,800
Building		106,000
Equipment		29,000
Furniture		15,800

Required: 1. Prepare the entry (entries) to record any impairment losses at October 31, 2020. Assume the company recorded no impairment losses in previous years. (If no entry is required for a transaction, select "No journal entry required" in the first account field.)

2. Prepare a classified balance sheet at October 31, 2020. (Be sure to list the current assets in the order of liquidity and fixed assets in order of land, building, equipment, and furniture. Enter all amounts as positive values.)