View Policies Current Attempt in Progress Presented below is information related to equipment owned by Swifty Company at December 31, 2020. Cost Accumulated depreciation to date Expected future net cash flows Fair value $9,520,000 1,088,000 6,800,000 4,624,000 Assume that Swifty will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years (a) Fill the missing amounts and choose the correct option For Swifty company, the recoverability test compares $ to $ As a resul e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer Save for Later Fill the missing amounts and choose the correct option As a result, the asse the recoverabilly test, because is/are less than Fill the missing amounts and choose the correct option cause Vare less than v so a on impairmenti the expected future net cash flows the expected present net cash flows e Textbook and Media Fill the missing amounts and choose the correct option v is/are less that so a on impairmenti Sause the market value of the asset the book value of the asset Cost Accumulated depreciation to date Expected future net cash flows Fair value $9,520,000 1,088,000 6,800,000 4,624,000 Assume that Swifty will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years. (a) Fill the missing amounts and choose the correct option vis/are less than SO on impairment is recorded in 2020. gain loss eTextbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer Save for Later (b) The parts of this question must be completed in order. This part will be available when you complete the part above