QUESTION 13 A company purchased a property years ago at cost of E550.000 and have been depreciating at a rate of 2% per annut on the sight line best The property is professionally valued at 600.000 at the end of the current financial year end. Which of the following statements relating to this evaluation is correct numing this is the first time the property as been revalued Arevaluation gain of 50.000 should be recognised in the Statement of Profit ortos Arevaluation pain of E105.000 should be recognised in the Statement of Profit or Loss Arevaluation gain of 105.000 should be recognised in Other Comprehensive income Arevaluation gain of 650.000 should be recognised in Other Comprehensive Income