Al Hakeem Islamic Bank enters into a Musharakah mutanaqisah partnership with Adam Enterprises for the sale and development of land located in Northfield, Birmingham. The bank is contributing land worth USD1.5 million in its books, while Adam is contributing USD1 million of money. Adam will be managing the land and transform it into an outdoor sports center. Before transferring the land to the partner the bank needed to re-evaluate the land with a professional evaluator costing USD20 thousand. The result was that the land hand gone up in value to USD 2 million. Adam enterprises agree that they will gradually own the land by buying it from the bank in 5 equal annual installments. Valuation of the project is done annually whereby costs pertaining to it will be shared equally. Write the journal entries of the banks in the third year if in that year, the value of the project had now gone up to USD 4 million, after a valuation done that year costing USD30 thousand dollars. Write also an extract of the balance sheet and income statement of the bank related to the transaction. At the end of the year after the Adam has paid already 3 installments