Construction of Timbaktu Ple's new store began on 1 January 2013. The following costs were incurred on the construction (amounts in thousands): Freehold land 4,800; Architect fees 720; Site preparation 1,450; Materials 9,800; Direct labor costs 11,400; Legal fees 2,500; General overheads 840. Timbaktu obtained a 20m unsecured loan on 1 January 2013 to aid construction of the new store (which meets the definition of a qualifying asset as per IAS 23). The loan carried an interest rate of 8% per annum, and is repayable on 1 January 2018. The store was completed and brought into use following its grand opening on the 1 January 2014. The useful life of the store is 20 years, and Timbaktu assumes zero residual value. In addition, Timbaktu Plc purchased an equipment on 1 July 2014, for 250,000, with an estimated useful life of 7 years and residual value of 33,000. Timbaktu uses a calendar-year reporting period. Required: a. Calculate the amount to be included as plant asset in respect of the new store. (Note: Timbaktu does not recognize freehold land as a separate plant asset) (3 points) b. Regarding the loan, what would be the impact (if any) on Timbaktu's income statement, balance sheet, and cash flow statement for the year ended 31 December 2014? (3 points) c. Pass journal entries to record depreciation on the store for 2014, 2015, and 2016, assuming that the company follows the declining-balance (DB) depreciation method. You can assume the DB rate to be 2x the straight-line rate. (5 points) Regarding the equipment only: suppose Timbaktu opted to depreciate it linearly, and at 1 January 2020, it was unexpectedly sold for 81,000. Pass the necessary journal entries to record the sale on 1 January 2020. (5 points)