Consider the following events for Brisbane Ltd. a) Purchased a piece of machinery at a cost of $2,425,000. As at 30 June 2022 , the machinery had accumulated depreciation of $485,000 and an expected remaining useful life of four years. On 30 June 2022, it was determined that the machinery could be sold at a price of $1,370,000 and that the costs associated with making the sale would be $67,000. Alternatively, the machinery is expected to be useful for another four years, and it is expected that the net cash flows to be generated from the machine would be $475,000 over each of the next four years. It is assessed that at 30 June 2022 , the market would require a rate of return of 5 per cent on this type of machinery. b) On 1 November 2021, Brisbane Ltd issued 10,200 convertible notes with the following features: 1. As per the requirements under AASB 136 and AASB 116, (i) determine whether any impairment loss needs to be recognised in relation to the machinery and, if so, provide the appropriate journal entry at 30 June 2022. (3 marks) (ii) provide the journal entry to account for depreciation in 2023. (1 mark) Please show all your calculations. 2. Prepare the journal entry to record the issue of the convertible notes following the requirements under AASB 139 and AASB 9. (1.5 marks) 3. Describe the effect, if any, of the issue of the convertible notes on each of the three components of the statement of financial position, that is, assets, liabilities and equity. (1.5 marks)