In an annual audit of Pacesetter Company Limited, you find that a physical inventory count on December 31, 2021 , showed merchanidise of $ 35,02,693 You also discover the following items were excluded from the physical count: 1. Merchanise of $61,000 is held by Pacesetter on consignment from Goody Corporation. 2. Merchandise costing $33,000 was shipped by Pacesetter FOB distination to Alphabet Soup Co. on December 31, 2021. This merchandise was accepted by Alphabet Soup Co. on January 6, 2022. 3. Merchandise costing $46,000 was shipped FOB shipping point to MCS Company on December 29, 2021. The merchandise was received by MCS on Janurary 10, 2022. 4. Merchandise costing &473000 was shipped FOLB distination from WSL Inc. to Pacesetter on December 30, 2021. Pacesetter received the items on January 8, 2022. 5. Merchandise costing $51,000 was shipped by DBT Ltd. FOB shipping point on December 30, 2021, and received by Pacesetter's office on January 2, 2022. 6. Pacesetter had excess inventory and incurred additional $1,500 in storage costs due to delayed shipment in transaction (3) above. 7. Pacsetter incurred $2,000 for interest expense on inventory it purchased through delayed paypment plans in fiscal 2021. Required: [a] Based on the information provided above, calculate the amount of inventory that should appear on Pacesetter's December 31, 2021 balance sheet.[16 marks]. [b] Under what circustances can a private company reporting under ASPE capitalize interests costs incurred to finance inventory? [2 marks] [c] Under what circumstances can a public company reporting under IFRS capitallize interest costs incurred to finance inventory? [2 marks]