Alba lid is an electronic and electrical consumer products manufacturing company headquartered in Malaysia. The following items have been extracted from Alba Ltd's financial statements for the year ended 30 June 2020 Net profit $1,350,000 Shareholders equity $8,500,000 Net cash flows from operating activities 52.100,000 As a part of its business growth strategy plan Alba itd intends to expand its operations into Australia. The Chief Financial Officer (CFO) of Alba Ltd has recently approached a lo lank in Australia seeking a loan of 54.500.000. The company currently is in a strong financial position and therefore, the CFO of Alba Led is confident that the company would quality for the loan The Australian bank traditionally uses the below ratio to assess the company's ability to generate future cash flows from operations Net cath tows from operating activities to net profit ratio. Net cash flow from operating activitiesnet profit) The generally acceptable ratio for the bank is 160 or above. The Australian bank uses international Financial Reporting Standards (IFRS) as a basis for lending decisions. However, Alba Ltd prepares the lanca statements using Malaysian Generally Accepted Accounting Principles (GAAP. The CFO of Alba has noted the following policy differences between the accounts which have been prepared based on Malaysia GAAP and what is required under IFRS in Australia O BE Dixita today at 3:46 pm Required: a) Prepare the necessary General Journal entries (Dr and Cr) to adjust the books of Alba Ltd to reflect the requirements of IFRS as at 30 June 2020. Narrations are not required. (10 Marks) b) Would Alba Ltd be granted the $4,500,000 loan from the Australian bank after making the adjustments to the financial statements? Show all calculations (Round off your answers to the nearest two decimals). (5 Marks) (Total 15 Marks)