Question Four (a) Company X prepares financial statements to 31 May each year. On 31 May 2019, the company acquired land for GHS400,000. This land was revalued at GHS450,000 on 31 May 2020 and at GHS375,000 on 31 May 2021. (b) Company Y prepares financial statements to 30 June each year. On 30 June 2019, the company acquired land for GHS600,000. This land was revalued at GHS540,000 on 30 June 2020 and at GHS620,000 on 30 June 2021. Assuming that both companies use the revaluation model, explain how each revaluation should be dealt with in the financial statements. Ignore depreciation. associated legal