On Narla Ltd's beef cattle farm, the firm has 1,000 head of beef cattle with an average market value of $1,500 per head (known as Group A). In addition, there are 200 cattle which are in calf and due to give birth in November/December 2017 (known as Group B). The market value of the cattle in calf' is an average of $2,000 per head (assume no twin births.) After birth, the mothers will be valued at $1,500 and the calves at $650 each. One hundred of the calves (known as Group C) will be sold at the nearby cattle market next February and the other one hundred calves (known as Group D) will be retained for 'fattening up over the next 4-5 years before they are sold. Costs to sell the calves include: transport and other costs amounting to $50 per head. State the classification of each of the groups of cattle on the 31st December 2017 Statement of Financial Position. - -- -- - -- - -- -- - - -- - - -- - -- -- - -- - -- -- - -- -- - ----- -- - -- -- - - -- -- - -- - -- -- - -- -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2 marks Explain the basis of the valuation of the cattle in Group C