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a) Under ASPE, determine if there is any impairment and prepare the necessary entry on December 31, 2020.

b) On December 31, 2021, it is estimated that the reporting unit's fair value has increased to $407 million. Under ASPE, prepare the journal entry, if any, to record the increase in fair value.

c) Under IFRS, determine if there is any impairment and prepare the necessary entry on December 31, 2020.

d) On December 31, 2021, it is estimated that the cash-generating unit's fair value has increased to $407 million. Under IFRS, prepare the journal entry, if any, to record the increase in fair value.

The following is net asset information for the Dhillon Division of Klaus Inc.: NET ASSETS as at December 31, 2020 (in millions Fair Value Excluding Book Value Goodwill Cash $ 58 $ 58 Accounts receivable 230 230 Property, plant, and equipment (net) 2,631 2,842 Goodwill 209 Less: Notes payable (2,628) (2,628) Net assets $ 500 The purpose of the Dhillon Division (also identified as a reporting unit or cash-generating unit) is to develop a nuclear-powered aircraft. If successful, travelling delays that are associated with refuelling could be greatly reduced, and operational efficiency would increase significantly. To date, management has not had much success and is deciding whether a writedown is appropriate at this time. Management has prepared the following estimates for the reporting unit or cash- generating unit: 1. Undiscounted future net cash flows are approximately $407 million. 2. Future value in use is approximately $498 million. 3. Sale of the unit would yield $352 million and selling costs would total $6 million