QUESTION 3 Stradbroke Ltd acquired a non-depreciable asset on 1 July 2018 for $4,250,000. The following information is available in relation to the land. Date Fair value Costs to Sell Value in Use 30 June 2019 4,250,000 210,000 4,500,000 30 June 2020 4,600,000 215,000 4,720,000 30 June 2021 $4,300,000 $230,000 $4,400,000 There are indicators of impairment and/or reversal of impairment at 30 June 2021. Stradbroke Ltd adopts the revaluation model for all of its non-depreciable assets and because it is listed on the Australian Securities Exchange (ASX), it complies with AASB 116 Property, plant and Equipment and AASB 136 Impairment of Assets. Required: What is the MOST correct statement in relation to the year ended 30 June 2021? O A. Stradbroke Ltd would disclose a revaluation surplus equal to $$350,000 in its Balance Sheet. OB. Stradbroke Ltd would recognise an impairment loss of $300,000. OC. Stradbroke Ltd would recognise an impairment loss of $350,000. D. Stradbroke would disclose a revaluation surplus equal to $50,000 in its Balance Sheet