3. Kakadu Ltd commences mining operations on 1 July 2017. During the first year of exploration and mining operations, Kakadu Ltd explores three areas known as Green, Tree and Frog. It incurs the following costs: Exploration and evaluation costs - property, plant & equipment ($m) 3 Exploration and evaluation costs - intangible assets ($m) Total site costs ($m) Green 6 9 Tree 6 4 10 Frog 3 7 10 12 17 29 On 10 January 2018, uranium is discovered at Green. Because of damage continually being caused by wild animals, it is decided in March 2018 that it is too costly to continue operations at Tree. Operations at Tree are abandoned. Operations at Frog are continuing, although no decision has been made about the commercial viability of the site. Up until 30 June 2018, development costs of $12 million are incurred at Green (to be written off on a production basis). This cost relates to the construction of plant and equipment. The site is estimated to have 50 000 tonnes of uranium. The current sale price is $3 000 per tonne. Up until 30 June 2018, 5 000 tonnes of uranium are extracted at a production cost of $2 million. In June 2018, 4 000 tonnes are sold, with 1 000 remaining on hand. The reporting date of Kakadu Ltd is 30 June 2018. Required: Provide the journal entries using the area-of-interest method