CHIKEN Company provided the following data:

Value of biological asset at acquisition cot on

December31,20181,200,000

Fair value valuation surplus on initial recognition at fair

ValueonDecember31,20181,400,000

Change in fair value to December 31, 2019 due to

Growthandpricefluctuation200,000

Decreaseinfairvalueduetoharvestin2019180,000

How much should be recognized in the income statement for the year ended December 31, 2017 related to these biological assets?

A. 2,800,000

B. 1,200,000

C. 2,600,000

D. 2,620,000

How much should be recognized in the income statement for the year ended December 31, 2017 related to these biological assets?

A. 20,000

B. 200,000

C. Nil

D. 1,420,000