Ghost Limited prepares its financial statements to 31 December each year, and the following issues need to be resolved before the financial statements for the year ended 31 December 2020 can be finalised: Issue 1: The following information is available in relation to the company's two cash generating units, CGU 1 and CGU 2: CGU 1 CGU 2 Goodwill 22,000 Property 6,000 30,000 Plant and equipment 128,000 48,000 Vehicles 28,000 66,000 Carrying value at 31 December 2020 184,000 144,000 Future net cash inflows: 2021 2022 2023 2024 2025 24,000 24,000 26,000 18,000 32,000 54,000 30,000 30,000 18,000 32,000 Fair value less costs of disposal at 31 December 2020 85,000 150,000 Discount rate appropriate for the activities of the cash generating units 12% 10% Requirement (a) Calculate whether either of the cash generating units, CGU 1 and CGU 2, has suffered an impairment loss at 31 December 2020; 4 Marks (b) Allocate any impairment loss arising in accordance with IAS 36 Impairment of Assets; and 4 Marks (c) Show the carrying value of each cash generating unit after allocating any impairment loss arising. 4 Marks Issue 2: Ghost Limited's plant and equipment at 31 December 2020 has a remaining useful economic life of five years. In December 2020, Ghost Limited announced publicly its intention to reduce the company's emission levels. This will involve modifying the company's plant and equipment at an estimated cost of 2,000,000, payable in equal annual instalments over the next five years, commencing in December 2021. The changes were prompted by market pressures and evaluated using discounted cash flow techniques. The discount rate used was 10%. Requirement Explain clearly how the above issue should be reflected in the financial statements of Ghost Limited, showing the amounts to be included in the company's financial statements for the year ended 31 December 2020