On 1 October 2017 Cranberry Co acquired a machine under the following terms. Manufacturer's base price (according to the contract) 800,000 Trade discount (applying to base price only) 10% Early settlement discount taken (on the payable amount, which was paid in 4 months instead of 6 months) 2% Freight charges 20,000 Electrical installation cost 16,000 Staff training in use of machine 25,000 Pre-production testing 14,000 Purchase of a three-year maintenance contract 45,000 It took half a year to put a machine into service. For acquiring the machine Cranberry took a one-year 12% loan on 1 October 2017 in the amount of $800,000. Cranberry can invest at 8%. The first payment in the amount of $420,000 was made on the 1st of October 2017, the second one was planned on the 1st of April, but Cranberry made an early payment on the Ist of February 2018 and gained a 2% discount for this early payment. All the other costs were incurred at the date of first payment. Required Prepare extracts from the statement of financial position for the above transactions as at 01 April 2018. N2. Abby Plc purchased PPE for S10 million on 1 June 2015. It has an expected useful life of twenty years and is depreciated on the straight-line method. On 31 May 2017, the PPE was revalued to $11 million. At 31 May 2018, impairment indicators triggered an impairment review of the PPE. The recoverable amount of the PPE was $7.8 million. Abby's accounting policy is to make a transfer of the excess depreciation arising on the revaluation of PPE. Required Prepare the extract of Abby's statement of financial position as of 31 December 2018 regarding the PPE. Assume that PPE is bought for cash, contributed to share capital