In the 2019 - 2020 financial year, Double Cabin Pty Ltd spent $7,000 on their luxury yacht Ocean Victory: $2,500 was spent on scrubbing clean the hull (bottom of the yacht) of small marine life and mud and $4,000 was spent on two (2) new sails plus $500 in labour for installation of the sails. ((2 * $2,000) + $500). As the accountant for the company, how would you treat the impact of the $7,000 expenditure on the yacht Ocean Victory' in the Income Statement