On January 2021 the fair value of Ahmad Company's property was $150,000 with a remaining life of 20 years. Ahmad's policy is to revalue its property at each year end. On 31 December 2021, the property was revalued at $129,000. The balance on the revaluation surplus on 1 January 2021 was $30,000 which relates entirely to the property.

Ahmad does not make a transfer to the realized profit in respect of excess depreciation.

Prepare extracts of Ahmad Company's statement of profit or loss and the statement of financial position for the year ended 31 December 2021 reflecting the above information.