The information that follows relates to equipment owned by Coronado Limited at December 31, 2020: Cost Accumulated depreciation to date Expected future net cash flows (undiscounted) Expected future net cash flows (discounted, value in use) $6,840,000 760,000 5,320,000 4,826,000 4.712,000 Fair value 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 titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit ecember 31, 2020 Loss on Impairment 1368000 1368000 Accumulated impairment Losses - Equipment 1206500 ecember 31, 2021 Depreciation Expense 1206500 Accumulated Depreciation - Equipment 990375 ecember 31, 2021 Accumulated Impairment Losses - Equipment 990375 Gain on Disposal of Equipment 12:39 PM ENG 2011