I completed question 1 & 2. I need assistance with questions 3 & 4, and how the companies compare on the performance measures.

5. Companies following international accounting standards are permitted to revalue fixed assets above the assets' historical costs. Such revaluations are allowed under various countries' economies using the standards issued by the IASB. Landco Global is a real estate company headquartered in the United Kingdom (U.K.). In a recent year, Landco disclosed the following information on revaluations of its tangible fixed assets. The revaluation reserve measures the amount by which tangible fixed assets are recorded below at historical cost and is reported in Landco's stockholders' equity. In a Note Disclosure for Landco Global, there is the following information: Completed investment properties are professionally valued on a market value basis by external valuers at the balance sheet date. Surpluses and deficits arising during the year are reflected in the revaluation reserve. Landco reported the following additional data. Amounts for Kennedy Realty for the current year are provided for comparison. Kennedy Realty is a U.S.company that follows IFRS. Total revenues Average total assets Net income Landco (pounds sterling, in thousands) 741 5,577 125 Global Kennedy (dollars, in millions) $ 517 4,696 297 Required: There are several ways to compare these companies, but one way is using ratio analysis. You also know that Landco reports a revaluation surplus of 1,952. Required: There are several ways to compare these companies, but one way is using ratio analysis. You also know that Landco reports a revaluation surplus of 1,952. 1. If you assume that 1,550 of the revaluation surplus amount arose from an increase in the net replacement value of investment properties during the year, prepare the journal entry to record this increase. Date Debit Credit Accounts Investment Revaluation Surplus 1,550 1,550 2. Next, compute the following ratios for Landco Global and Kennedy Realty. 1. Return on assets. Landco 125 / 5,577 = 0.022 Global Kennedy 297 / 4,696 = 0.063 2. Profit margin on sales. Landco (125 / 741) * 100 = 16.87 Global Kennedy (297 / 517) * 100 = 57.45 3. Asset turnover. Landco 741 / 5,577 = 0.132 Global Kennedy 517 / 4,696 = 0.11 How do these companies compare on these performance measures? 3. Based on your analysis using IFRS standards, are Landco's assets and equity overstated as compared to Kennedy's? If so, why or why not? 4. What types of adjustments did you make in order to have a more valid comparison of ratios between the two entities