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. Accounts payable Account Accumulated depreciation, building Accounts receivable Accumulated depreciation, equipment Accumulated depreciation, furniture Allowance for doubtful accounts Building Balance $ 11,420 20,000 79,400 37,600 21,100 900 136,600 Cash 11,200 Equipment 90,400 Expenses, including cost of goods sold 761,400 Furniture 50,700 Land 105,700 Merchandise inventory Note payable Sales Tarifa Sharma, capital Unearned revenues 35,300 85,900 904,180 62,680 8,120 Other information: 1. All accounts have normal balances. 2. $26,600 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 Land Recoverable Value $136,600 105,800 28,800 Building Equipment Furniture 15,600 Required: 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.) View transaction list Journal entry worksheet < 1 2 3 4 Record impairment loss on equipment. Note: Enter debits before credits. Date Oct. 31, 2020 General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare a classified balance sheet at October 31, 2020. (Be sure to list the current assets in the order of liquidity and fixed asse In order of land, building, equipment, and furniture. Enter all amounts as positive values.) SAFETY-FIRST COMPANY Balance Sheet Current assets: Total current assets Property, plant and equipment Total property, plant and equipment Total assets Current liabilities: Total current liabilities Non-current liabilities: Total liabilities October 31, 2020 Assets Liabilities Equity Total abilities and equity