Q1 Regent purchased machinery on the 01/01/2016 for R120 000. Installation fees is R30 000. The machinery has a nil residual value. Depreciation is 25% per annum based on the cost method. Regent uses the Revaluation model for PPE. Fair values of the machinery are as follows: 31/12/2017 R90 000 31/12/2018 R120 000 31/12/2019 R100 000 Required: (a) Prepare the journal entries for Regent from 2016 year to 2019 year. (b) Prepare the Property Plant and Equipment note in the statement of financial position