During the year ended 31 December 2021, High Bhd acquired the following assets: Assets acquired Amount 10,000 shares in Media Bhd which are to be held for RM100,000 trading purposes Date 1 January 2021 1 April 2021 1 July 2021 Machinery with an estimated useful life of 10 years A piece of freehold land Additional information: RM150,000 RM800,000 The accounting policies of High Bhd are as follows: Depreciation of machinery is based on the straight line method and full year depreciation is to be provided in the year of purchase. The revaluation method is adopted for land. Financial assets are classified at fair value through profit or loss. The fair values of the assets at the year end were as follows: 10,000 shares in Medium Bhd Freehold land RM120,000 RM900,000 Question: Explain the accounting treatment for the above assets for the year ended 31 December 2021