Question 1 At the beginning of its 2018 financial year, LilinPanas Corporation purchased equipment for RM100,000. The equipment is expected to have a five-year useful life with no residual value, so depreciation for 2018 is RM20,000. At the end of the year, Lilin Panas chooses to revalue the equipment. Assuming that the fair value of the equipment at year-end is RM84,000, LilinPanas records depreciation and the revaluation. Required: a) Record LilinPanas Corporation depreciation and revaluation for 2018. And depreciation expense for 2019. b) Record the journal entries for the year ended 2019, assuming the fair value of the equipment is RM57,000. [10 marks)