Please show all the steps for where each number is coming from.

On January 1, 2016, Newman Corporation set up an industrial waste recycling plant in Ingersoll, Ontario at a cost of $3,00,000. Newman was legally required to clean up the site and restore the environment to its original, pristine conditions at the end of its 15-year useful life, at an estimated cost of $400,000. Newman estimated that 40% of the cost of the enviornment cleanup would be caused by building the plant itself, and that the remaining 60% of the cost by using the plant in waste recycling. Operations in 2016 and 2017 increased the cost of environment cleanup that would be incurred at the end of the plants life by $20,000 and $12,000, respectively. The estimated residual value of the plant was $80,000, and Newman used straight-line depreciation. Newman prepares financial statements in accordance with IFRS.

a. Prepare journal entries to record the building of the plant, and the asset retirement obligation for the plant, on January 1, 2016. Use 5% as the discount rate.

b.Prepare Journal entries required for the plant and the asset retirement obligation at December 31, 2016

c. Prepare journal entries required for the plant and the asset retirement obligation at December 31, 2017.