Development Co incurs the following expenditure in years 20X1-20X5. 20X1 20X2 20X3 20X4 Research Development $ $ 35,000 55,000 65,000 20X5 38,000 Bahrain Polytechnic * - | Activity: The development expenditure meets the IAS 38 criteria that require capitalisation ('PIRATE'). The item developed in 20X1 and 20X2 goes on sale on 1.1.X3 and it will be three years from then until any competitor is expected to have a similar product on the market. Required Show statement of profit or loss and Statement of Financial Position extracts for the years 20X1-20X5 inclusive