Bremond Limited is currently contemplating the appropriate method of financing. As a result, the entity, management presented the entity's statement of financial position as at December 31, 2020 for review by the entity's financial consultants: Statement of Financial Position as at December 31, 2020 Non-Current Assets Property Current Assets Inventory Cash and bank Total Assets Share Capital and Reserves Ordinary share capital @ $0.10 per share Retained earnings Revaluation reserves iii. 300,000,000.00 iv. 150,000,000.00 50,000,000.00 200,000,000.00 500,000,000.00 100,000,000.00 175,000,000.00 Current Liabilities Trade Payables Tax provisions Total Equity and Liability The following events also took place during the period, which were not accounted for in the financial statement above by management i. 25,000,000.00 300,000,000.00 130,000,000.00 70,000,000.00 200,000,000.00 500,000,000.00 On November 30, 2020, the entity made a rights issue of two new shares at rights price of $1.75 for every ten shares currently held when the market price of each stock stood at $2.25. On December 30, 2020, the entity declared dividends of $0.025 for each share held as at December 30, 2020. On December 31, 2020 the entity issued $400 million worth of convertible loan notes which have nominal rates of 5% when the market rate of interest on similar notes stood at 8% per annum. The notes are expected to mature in two years and converted into ordinary shares. Property was revalued on December 31, 2020 upward by $200 million. Required: a. Prepare the relevant journal entries for the above adjustments that are to be made by management. [10 marks] | 12 marks] to the issue of [3 marks] b. Redraft the above financial statement after the adjustments above c. Outline the significance of the concept of substance over form in relation the above convertible loan notes.