As chief accountant at Zen Company, you have been given the following information by the director of research: Project Alpha OMR '000 Costs to date (pure research 25%, applied research 75%). 2013 800 Costs to develop product (to be incurred in the year to 31st March 2013) 3,000 Expected future sales per annum for 2014-2019 1,000 Non-current assets machine purchased in 2013 for the project: Cost 7.900 Estimated useful life 7 years Residual value 900 The board of directors considers that all the criteria of IAS 38 to capitalize development cost as an intangible asset are met. Required: A. Calculate the amounts of depreciation and amortization. B. Show accounting entries in the company's accounts for research cost, development cost and amortization C. Show how depreciation, amortization and research cost will be recorded in statement of profit or loss for each of the years ending 31st March 20132019. D. Show how tangible and intangible assets will be recognized in statement of financial position for each of the years ending 31st March 2013-2019. E. You are a Chief accountant of Zen Company, a listed entity which prepares consolidated financial statements in accordance with International Financial Reporting Standards (IFRS Standards). The financial statements for the year ended 30 September 2019 are published. A trainee accountant who is assigned to your department. As a part of training activity the trainee has reviewed the financial statements. While reviewing at the note detailing the intangible assets included in consolidated statement of financial position, Trainee noticed that several brand names associated with subsidiaries acquired by Zen Company recently were included in this figure. Therefore, the trainee expected to see a figure for the Zen brand name included within intangible assets. Trainee noticed that any amount for the Zen brand name that has been developed within Zen for a number of years and is well appraised by our customers does not appear in financial statement Trainee has a question why Zen Brand is not recognized in financial statements Required: Provide answers to the question raised by the trainee. You should justify your answers with reference to relevant IFRS Standards