Question $4$

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Mark $3\mathrm{.}75$ out of $5\mathrm{.}00$

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Computing and Assessing Plant Asset Impairment

Zeibart Company purchased equipment for $$324,000$ on July $1,2019,$ with an estimated useful life of $10$ years and expected salvage value of $$36,000.$ Straight$-$line depreciation is used. On July $1,2023,$ economic factors cause the fair value of the equipment to decline to $$129,600.$ On this date, Zeibart examines the equipment for impairment and estimates $$180,000$ in future cash inflows related to use of this equipment.

c$.$ Using the financial statement effects template, report the impairment loss, if any, and depreciation for the $12$ months ending June $30,2024.$Only need part C answered