8. Finnbarre Construction Ltd has a piece of land on the company's books valued at 500,000. Five years ago, a boom in land values led the company to increase the carrying value to 750,000. In recent times, however, there's been a decline in land prices and it is estimated by a surveyor that the land is now worth only 600,000. How should the values be accounted for at the end of the current year? a) Dr non-current asset 250,000; Cr revaluation surplus 150,000; Cr income statement 100,000 b) Dr revaluation surplus 150,000; Dr income statement 100,000; Cr non-current asset 250,000 c) Dr non-current asset 150,000; Cr revaluation surplus 150,000 d) Dr revaluation surplus 150,000; Cr non-current asset 150,000