Consider each of the following independent and material situations. In each case, assume that the financial report has been prepared and audited for the year ended 30 June 2020. (a) Range Ltd, (Range) holds several parcels of land in suburban Sydney that are currently zoned non-residential. Range has valued land on a fair value basis under AASB 116 Property, Plant and Equipment. This year, however, Range revalued the land by adopting a registered valuer's estimate of the market value of the land. This estimate included a substantial increase in value based on the general community expectation that the land will soon be rezoned for residential use. (b) Stonehouse Ltd.'s annual report includes a detailed graph showing sales and profit figures for the past 10 years. However, there are some inconsistencies between the graph and the figures in the audited financial report. Management does not want to change the graph because it would involve increased printing costs. (c) Connect Ltd. (Connect) is a subsidiary of a Hong-Kong-based Telecommunications company, Link Ltd. (Link). Connect has suffered significant losses during its five years of operation. In previous years this did not pose a problem from an audit point of view, as Link pledged sufficient cash each year to cover Connect's annual reporting costs. However, Link is only able to pledge cash to cover three months of Connect's 2020 operating costs. Connect has no realistic prospect of obtaining finance from any other source. However, the directors are still hopeful of finding a financier and so have not mentioned the problem in the financial report (e)The audit of Jones Ltd. Was extremely difficult, as the client did not maintain appropriate books and records during the year. Although the statutory registers were maintained, the accounting records were not updated for the first nine months of the year, as the company was without an accountant during this period. An accountant was employed in April and has tried to reconstruct records from the details of receipts and payments available However, the accountant has been unable to reconcile the bank account and you are not satisfied that all transactions that occurred during the year are reflected in the financial report. Required: Assume that no adjustments are made. For each situation, identify the type of audit opinion required and explain the basis of your answers