Khaliq Berhad commenced trading on 1 January 2015. On that date the company purchased a building for RM 120,000 to be depreciated over 30 years with no residual value. Khaliq Berhad uses a revaluation model for buildings. After five years of trading on 1 January 2020, the building has a fair value of RM 175,000. It still has a further 25 years of useful life remaining. Required: Calculate the revaluation surplus as at 1 January 2020. Show the journal entry to record the revaluation (ii) Calculate the revised depreciation charge after the revaluation. (iv) Explain how these events will be reported in the financial statements for the year ended 31 December 2020