The information that follows relates to the assets of Canadian Company as at December 31, 2020 (their year-end). Canadian Company has the following asset that has been identified as needing to be tested for impairment. Cost Accumulated depreciation Undiscounted future cash flows Discounted future cash flows (value in use) Fair value Costs to sell Remaining useful life in years Equipment $ 104.000 S 58.000 S 47.000 $ 32,000 $ 34,000 $ 5 2,200 Instructions: Assume Canadian Company follows IFRS: a) Provide any required entries at December 31, 2020 regarding impairment for the Equipment. Assume depreciation for 2020 has already been recorded. If no entry is required comment on why. Supporting rough work must be shown for part marks. Date Description Dr Cr hommuahinori bom