Siow Attempt History Current Attempt in Progress The information that follows relates to equipment owned by Coronado Limited at December 31, 2020 Cost Accumulated depreciation to date $6,840,000 760,000 Expected future net cash flows (undiscounted) 5,320,000 Expected future net cash flows (discounted, value in use) 4,826,000 Fair value 4,712,000 Costs to sell (costs of disposal) 38,000 Assume that Coronado will continue to use this asset in the future. As at December 31, 2020, the equipment has a remaining useful life of four years. Coronado uses the straight-line method of depreciation. Repeat the requirements in (a) above assuming that Coronado is a public company that follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account title and enter O for the amounts.) I Date Account Titles and Explanation December Loss on Impairment 31, 2020 Accumulated Impairment Losses Equipment December 31, 2021 Depreciation Expense December 31, 2021 Debit Credit 125400000 120650000 Accumulated Depreciation - Equipment Accumulated Impairment Losses Equipment 94050000 Recovery of Loss from Impairment 125400000 120650000 94050000