Could you please advise 1) general journals (reflects to IFRS) and the net profit for the year ending 31 Dec 2017 for the following information.

Shaly Ltd is a Malaysian based company that prepares its nancial statements using U.S. GAAP. The following items have been extracted from Shaly's Final Accounts for the year ended 31 December 2012: Net prot $1,000,000 Shareholder's Equity 3,000,000 Total Assets 0,000,000 Shaly Ltd has expanded its operations into Australia and is considering raising capital in Australia. Shaly Ltd must now translate some of its accounts into IFRS. Adjustments relating to this question are smnmarised below: Additional Information: 1. The company used the LIFO method for inventory valuation. IFRS only permits the use of FIFO method. The inventory valuations for the current and previous period are as follows under the two methods: Current Period Previous Period LIFE!I $300,000 $250,000 FIFO $600,000 $500,000 2. The company engages in research and development activities and during the current nancial year it paid $350,000 for research and development. It had expensed the entire amount in its Prot :55 Loss Statement. However, $150,000 of the total amount qualies to be capitalised under IFRS. 3. Two years ago the company had acquired goodwill in a business combination. The amount of Goodwill was $500,000. The company amortises goodwill over a ten year period. An amortisation expense of $50,000 was recorded in the current period as well as accumulated amortisation of $50,000. IFRS does not permit amortisation of goodwill. 4. The company had invested in 200,000 shares in a listed company which were purchased at $2.00 each at the beginning of this year. The shares were trading at $2.50 each on 31 December 2015'. 5. The directors of the company have recommended that a dividend of $50,000 be paid in respect of the 201? nancial year. The dividend is required to be approved by the company's shareholders. As of the reporting date the shareholders had not met to approve this dividend, but the directors have recorded $50,000 as dividend to be paid anyway