during the year progressive commenced research work on a new processor chip. Progressive has always been particularly successful in bringing similar projects to a profitable conclusion. In addition to this. the company spent $200,000 training staff to use new equipment. Progressive also developed a new online platform during the year, spending $100,000 a month evenly from 1 February 2015 to October 2015. Progressive was unsure of the outcome of the project. but all doubts were resolved on 1 May, following successful testing. The platform was then launched o 1 November 2015 and is expected to last 5 years. 1. What are the conditions that must be satisfied in order for an intangible to be classified as being identifiable. 2. Explain how the expenditure regarding the training for staff and expenditure on the processor chip should be classified. 3. What is the amount that should be recorded in Progressive's statement of profit or loss for the year ended 31 December 2015 in relation to the development of the online platform. 4. Discuss whether the online platform will be subject to an annual impairment review and whether the development costs should be held at fair value at each year-end.