This question: 1 point(s) possible Submit q Henne Optical Corporation reported the following information regarding long-term operating assets for its Lens Manufacturing Operations (Click the icon to view the information.) Recent advances in technology have rendered the company's lens manufacturing operations nearly obsolete Management projects the following future cash flows for its lens manufacturing operations. (Click the icon to view the cash flow projection table.) Read the requirements Requirement a. Determine the asset group for purposes of impairment testing and justify your decision Assets Asset Group Justification Factory Building Land Lens Manufacturing Equipment Lens Polishing Equipment General Factory Equipment Delivery Trucks Requirement b. Compute the impairment loss for the asset group identified in part (a) for the current year, if any. (If there is no impairment loss, leave the box empty, do not enter a zero) The impairment loss for the assets grouped is 5 Requirement c. Prepare the journal entry to record the impairment loss, if needed. (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank.) Account Date of Impairment Data table Carrying Value Estimated Fair Value Description Factory building (used in several segments) S 10 000 000 14.500.000) Less. Accumulated depreciation Net book value $ 5,500,000 $ 8.900.000 NOT Land S 7.000.000 $ 14.000.000 Lens manufacturing equipment $ 21100 000 (600,000) Less. Accumulated depreciation Net book valve 1.500.000 $ 1.100.000 Lens polishing equipment $ 3,000,000 (1 200,000) Less Accumulated depreciation Net book value $ 1 800 000 $ 1.625.000 General factory equipment (used in several segments) $ Less Accumulated depreciation 6,500,000 74,000 000) Net book value $ 2.500,000 $ 2.400,000 Delivery trucks (used in several segments) Less. Accumulated depreciation $ 1.750 000 (300.000) Print Done OP all AS FO PrtScn F8 Home 19 End Pgl FIO Data table 5 5UU UUU YUU UUU Net book value S 7.000 000 $ 14,000,000 Land Lens manufacturing equipment S 2.100,000 (600.000) Less Accumulated depreciation 1.500,000 $ 1.100.000 Nei book value Lens polishing equipment $ 3.000.000 (1,200.000) Less Accumulated depreciation $ Net book value 1,800,000 $ 1.625.000 General factory equipment (used in several segments) $ 6,500,000 (4,000,000) Less Accumulated depreciation S Net book value 2,500,000 $ 2.400 000 Delivery trucks (used in several segments) $ 1.750 000 (300.000) Less Accumulated depreciation Net book value $ 11.450 000 $ 1.125.000 Total net fixed assets S 19 750,000 Print Done E OL OUT O all as FA F6 PrtScn FB Home 19 End F10 * $ 21 % 5 use 6 & 7 ( 9 8 Management projects the following future B (Click the icon to view the cash flow pr Read the requirements. ustify your decision. Justification Data table Future Period Cash Flow Projection (a) for the o do not enter a ze Year 1 S 1.200.000 Year 2 750,000 (Record del Year 3 400.000 fno entry is require Year 4 350 000 Dairment 300,000 Year 5 3,000,000 Total Print Done