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	$	12,820
Accounts receivable		21,400
Accumulated depreciation, building		80,800
Accumulated depreciation, equipment		39,000
Accumulated depreciation, furniture		22,500
Allowance for doubtful accounts		1,040
Building		138,000
Cash		12,600
Equipment		91,800
Expenses, including cost of goods sold		762,800
Furniture		51,400
Land		106,400
Merchandise inventory		36,000
Note payable		86,600
Sales		904,040
Tarifa Sharma, capital		64,080
Unearned revenues		9,520

Other information:

1. All accounts have normal balances.
2. $28,000 of the note payable balance is due by October 31, 2021.

39,000 and 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 $ 12,820 Accounts receivable 21,400 Accumulated depreciation, building 80,800 Accumulated depreciation, equipment 500 Accumulated depreciation, furniture 22,500 Allowance for doubtful accounts 1,040 120 138,000 12 Cash 12,600 Equipment 91,800 762800 Expenses, including cost of goods sold 762,800 Furniture 106.400 106,400 Merchandise inventory 36,000 Note payable 86,600 Sales 904,040 Tarifa Sharma, capital 64,080 Unearned revenues 9,520 Building 51,400 Other information: 1. All accounts have normal balances. 2. $28,000 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. Recoverable Vale Dernt 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 $ 138,000 107,200 30,200 17,000 Building Equipment Furniture 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 Record impairment loss on equipment. Note: Enter debits before credits. View transaction list Journal entry worksheet Record impairment loss on equipment. Note: Enter debits before credits. Date General Journal Debit Credit Oct. 31, 2020 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 assets in order of land, building, equipment, and furniture. Enter all amounts as positive values.) SAFETY-FIRST COMPANY Balance Sheet October 31, 2020 Assets Current assets: 0 $ 0 Total current assets Property, plant and equipment: 0 0 0 0 Total property, plant and equipment Total assets $ 0 Liabilities 0 0 0 0 Total property, plant and equipment Total assets $ 0 Liabilities Current liabilities: Total current liabilities $ 0 Non-current liabilities: Total liabilities $ 0 Equity Total liabilities and equity $ 0