Ruby Ltd provides a defined benefit superannuation plan for its senior managers. The following information is available in relation to the plan.

1. Present value of the defined benefit obligation 1 July 2023: $10 000 000
2. Fair value of plan assets 1 July 2023: $9 500 000
3. Past service cost: $300 000
4. Current service cost: $700 000
5. Contributions paid by Ruby Ltd to the fund during the year: $1 500 000
6. Benefits paid by the fund to past employees during the year: $600 000
7. Actuarial gain pertaining to the present value of the defined benefit obligation as a result of an increase in the interest rate: $300 000.
8. Return on plan assets: $700 000
9. Present value of the defined benefit obligation 30 June 2024: ?
10. Fair value of plan assets at 30 June 2024: ?

Additional information

1. The relevant interest rate is 7%.
2. The asset ceiling was $500 000 at 30 June 2023 and $1 000 000 at 30 June 2024.
3. All contributions received by the funds were paid by Ruby Ltd. Employees make no contributions.

Required:

Provide the note disclosure in the financial statements of Ruby Ltd to reconcile the i) plan assets and ii) defined benefit obligation, for the year ended 30 June 2024. You may ignore tax.(11 marks)