Bob Square plc acquired a new building in Maun City a forty year(40) life for a total amount of P20million on 1 May 2018. The management made a decision to move out of the new building and then rent it out on the 31st of October 2020.it is the Bob Square 's to value their investment properties using great fair value model. On the 31 October 2020 the building 's fair value was P22 million and at 31 April 2021 the fair value was P23 million.

Required

Analyze the above and advise the Directors of Bob Square plc on the total net amount to be recorded in the income statement in respect to the building for the year 31 April 2021.