Lion Company limited revalued its land and buildings at the start of the year 2020 to $100m ($30 million for the land). The property cost $50 million ($10 million for the land) ten years prior to the revaluation. The total expected useful life of 50 years is unchanged. The company's policy is to make an annual transfer of realized amounts to retained earnings, Required: Show the effects of the above on the financial statements for the year