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Analysis Component: What is the impact on the financial statements of an impairment loss? Problem 9-15A Partial-period depreciation; disposal of PPE LO2, 3, 6 CHECK FIGURES: 1. GAIN = $67,350; 2. LOSS = $23,867 Endblast Productions showed the following selected asset balances on December 31, 2020: Land ... $396,800 Building ...... 526,400 Accumulated depreciation, building 393,600 Equipment... 171,200 Accumulated depreciation, equipment. 74,400 Remaining estimated useful life is eight years with a residual value of $80,000; depreciated using the straight-line method to the nearest whole month. 2Total estimated useful life is 10 years with a residual value of $16,000; depreciated using the double- declining-balance method to the nearest whole month. Required Prepare the entries for each of the following (round final calculations to the nearest whole dollar). 1. The land and building were sold on September 27, 2021, for $592,000 cash. 2. The equipment was sold on November 2, 2021, for $56,800 cash. Problem 9-16A Disposal of PPE LO1, 2, 3, 6