B. Earthon LLC is a producer of recyclable and ecofriendly products for its customers. the company has a class of machinery that is used to recycle waste paper to usable products. The company purchased machinery on 1 January 20X0 for OMR1000,000 and its estimated life is 12 years without scrap value. The company adopts the Straight-line method to calculate the depreciation. In the year 20X2 circumstances led to a revaluation of machinery, the company revalued its Machinery to fair value for OMR500,000. In the year 20X4 the company proposes to revalue its assets due to market conditions. During this period, the company revalued the machinery again to a fair value of OMR 900,000. The company's accounting policy is to adopt a revaluation model in the .measurement of property plant and equipment Required: As an accounting student, how would you deal with the above scenario as per the provisions of IAS16. Also, pass the journal entries for the same