Perth plc holds two contingent assets at the end of its reporting period. It is believed that Contingent Asset 1 will lead to a possible inflow of resources and Contingent Asset 2 will lead to a probable inflow of resources. For reporting purposes, the following is being considered: 1. Contingent Asset 1 will be shown in a note to the financial statements 2. Contingent Asset 2 will be shown as an asset in the statement of financial position According to IAS 37, Provisions, contingent liabilities and contingent assets, which of the above reporting treatments would be regarded as correct? A. 2 only B. Neither 1 nor 2 C. 1 only OD. Both 1 and 2