PPL Co is a trading company and its year end date is 31 December. i PPL Co owns a commercial building used for administration purposes which was purchased on 1 January 2010 at a cost of $600,000. PPL Co has followed a policy of depreciating the building over 50 years with no residual value. On 1 July 2019, PPL Co decided to relocate the business elsewhere. Therefore, PPL Co leased the building out to another company. The market value of the building was assessed as $800,000 on 1 July 2019. This valuation had not changed at 31 December 2019. ii PPL Co owns another commercial building for investment purposes and receives rental income annually. The building had a fair value of $550,000 at 31 December 2018 and $740,000 at 31 December 2019. iii PPL Co owns a retail business and treats this business as a separate cash-generating unit. The carrying amounts of the assets comprising the retail business are: Building Plant and equipment Cash Goodwill $'000 900 300 200 40 In 2019, the business suffered as the result of an economic recession. An impairment review was carried out as at 31 December 2019 and the recoverable amount of the cash-generating unit was estimated at $1.3m. iv PPL Co adopts the fair-value model of accounting for investment property according to HKAS 40 Investment Properties and the cost model for property, plant and equipment according to HKAS 16 Property, Plant and Equipment. It is company policy to transfer the cumulative revaluation surplus to retained profits upon retirement or disposal of the asset. a Calculate the gain or loss on revaluation of the building mentioned in part (i) above. (6 marks) b Calculate the value of the cash-generating units and allocate the impairment loss. (12 marks) Prepare the journal entries for recording the relevant transactions for the year ended 31 December 2019. (20 marks) d Explain the meaning of 'cash-generating unit'. (2 marks)