|1 2 3 . W. Jan 2, Y4 2. Eckland Manufacturing Co. purchased equipment on January 1, 2009, at a cost of $90,000 Depreciation for 2009 and 2010 was based on an estimated ten-year life, $2,000 estimated idual value and Double decline balance depreciation method. On January 1, 2011, Eckland revised its estimate and now believes the equipment will have a remaining service life of eight res years, $2,500 estimated residual value and sum-of-years digits(SYD) depreciation method. On Dec 31 2011, Eckland reasonably estimated future cash flow that annual net cash inflow of previous three years will have $ 7,000 and remaining years will have $5,000. Also Eckland estimated the residual value $1,000.On the other hand, Eckland also estimated selling price $50,000 of this equipment and disposal cost $2,000 Additional information: Discount rate 6%, PV(3,6%)-o84, PV(6,6%)-0.70, PV(7,6%)#0.66 PV43,6%)-2.67, PVA(4,6%)-3.47 Required: (1) Determine the amount of impairment loss, if any. If a loss is indicated, prepare Journal entry to record the loss. (USGAAP) (2) Calculate the impairment loss, if any. If a loss is indicated AND prepare Journal entry to record the loss (under IFRS) :19 :31 :1 :328 C 46C 0