Accounting policies    LO1 At a meeting on 16 June 2019, the directors of Alpaca Ltd decided to change the company’s accounting policy in regard to research and development expenditure. • In previous years, research and development expenditure had been capitalised and amortised over 3 years. In line with this policy, $75 000 was capitalised on 1 January 2018. • The new policy is to write off all research and development to expense when incurred. • During the year ended 30 June 2019, the company spent a further $62 000 on research and development which was capitalised on 1 January 2019. • Research and development expenditure is allowable as a deduction for tax purposes when incurred. Required Prepare any note disclosures required by AASB 108/IAS 8 in respect of the change in accounting policy. Show all workings.