ABS Ltd acquired a property on 1 January 2014 at a cost of GHS400,000 and immediately occupied it as office premise. On acquisition, it was estimated to have a useful life of 50 years. Subsequent to its acquisition, the asset was measured at depreciated cost until 1 October 2009 when management of ABS decided to convert the building into an investment property (mainly for rentals). Following this decision, the property was fair valued at GHS 380,000. ABS adopted the fair value model for subsequent measurement of the investment property. At 31 December 2019, it was fair valued at GHS390,000.

Required: Account for the treatment of this property in the 2019 financial statements of ABS Ltd.