Use the following information for Jake Company: Sales Revenue $2,000,000 Interest/Dividend Revenue 50,000 Cost-of-Goods- Sold 1,000,000 Selling and Administrative Expenses.. 200,000 Loss on Discontinued Operations..... 100,000 What is Operating Income for the Year Ended December 31, 2020 (ignore taxes)? O $860,000 O $700,000 O None of the above O $800,000 O $760,000 Question 64 1 pts Impairment--Jessica Fullem Corp. was determining whether to write off some equipment. The equipment has a cost of $900,000 with depreciation to date of $400,000 as of December 31, 2020. On December 31, management projected the future net cash flows from this equipment to be $300,000 and the fair value to be $330,000. the company intends to use this equipment in the future, Determine if there is a loss on impairment and how much. O $270,000 $570,000 0 (No loss) O $170,000 O None of the above D Question 66 1 pts Impairment--Natalie Lui Corp is an international Company that uses IFRS. She owns machinery with a book value of $450,000. it is estimated that the machinery will generate future non-discounted cash flows of $350,000 and discounted cash flows of $400,000. the machinery has a fair value of $300,000. Natalie should recognize a loss on impairment a of assuming she is using IFRS. O $150,000 O $100,000 $50,000 00