ABC Ltd purchased land for $500,000 on 1 January 2017 and used revaluation model to account for this type of asset. It was revalued on 31 December 2019 to $400,000. A subsequent revaluation on 31 December 2021 found the market value to be $550,000 due to a change in council zoning for the area. On 31 December 2021, the company should record in its accounting book: Revaluation surplus $100,000 Revaluation expense $50,000 C. Revaluation income $100,000 Revaluation surplus $150,000 D