On $1$ January $20$X$6,$ Gardenbugs Co received a $$30,000$ government grant relating to

equipment which cost $$90,000$ and had a useful life of six years. The grant was netted off

against the cost of the equipment. On $1$ January $20$X$7,$ when the equipment had a carrying

amount of $$50,000,$ its use was changed so that it was no longer being used in accordance

with the grant. This meant that the grant needed to be repaid in full but by $31$ December

$20$X$7,$ this had not yet been done.

How is the grant and asset required to be reflected in the financial statements of Gardenbugs

Co for the year ended $31$ December $20$X$7?$