C. Jaman Ltd, a manufacturer and supplier of aluminum utensils for households, has recently established a new facility in Kumasi. To help in this new operation, Jaman Ltd have secured a number of grants from the Government of Ghana and are unsure how the grants are to be accounted for in the financial statements. The company has a year end of 30 April 2017 and all the following transactions took place at 1 May 2016. i) Jaman Ltd has been awarded a grant for GH80,000, to be received over three years, in respect of providing employment to fresh graduates in the area. ii) Jaman Ltd received a GH5,000 grant from the Ministry of Business Development for the initial training of the new employees. iii) The company also received a grant of GH120,000 from the Ministry of Special Development Initiative towards the acquisition of a GH600,000 machine. The machine has a useful economic life of 8 years and an estimated residual value of GH60,000. Depreciation is on the straight line basis. Required: Explain how each of the above should be accounted for in the financial statements of Jaman Ltd for the year ended 30 April 2017, in accordance with IAS 20: Accounting for Government Grants and Disclosure of Government Assistance (5 marks) (Total 15 marke