An entity purchased property for $6 million (land $1 million) on 1 July 2013. The expected life of the building was 50 years with zero residual value. On 30 June 2014, the property was revalued to $5.8 Million (land $1.39 million, buildings $4.41 million). The balance on Revaluation Reserve account is $500,000 ($500,000 relates entirely to the land and zero to the building). Separate Revaluation Reserve accounts for land and building are maintained by the company, which means a revaluation loss related to building cant be deducted from revaluation reserve of land. Show the effects of the revaluation on the 3 financial statements for the year ending 30 June 2015.