Question 16: Statement of Comprehensive Income and Changes in Equity [15 Marks] Spend about 30 minutes on this section. Fijian Holdings Limited is having an important board meeting, John a recent graduate is invited to observe the meeting to understand the company's environment and senior decision making. John hears some terms such as "retrospective application", "retrospective restatement", and "events after reporting period". Required Provide a brief explanation to John on the points mentioned below: 2) What is the difference between "retrospective application" and "retrospective restatement"? Provide relevant examples. b) Provide an example of a situation in which it may be impracticable to make a retrospective restatement. c) What are the two types of events that may occur after the end of the reporting period? Provide relevant examples. - odjusting +Non- ndjsting d) What is the appropriate accounting treatment for each type of event in (c)