Saved mework G Surat Limited paid cash to acquire an aircraft on January 1, 2017, at a cost of 34,600,000 rupees. The aircraft has an estimated useful life of 50 years and no salvage value. The company has determined that the aircraft is composed of three significant components with the following original costs (in rupees) and estimated useful lives: Component Fuselage Engines Inerior5,100,003 years Cost 12,500,000 17,000,00e Useful Life 50 years 40 years 34,600,000 The U.S. parent of Surat does not depreciate assets on a component basis, but instead depreciates assets over their estimated useful life as a whole. Assume that a foreign company using IFRS is owned by a company using U.S. GAAP. Thus, IFRS balances must be converted to U.S. GAAP to prepare consolidated financial statements. Ignore income taxes. Required a. Prepare journal entries for this aircraft for the years ending December 31, 2017, and December 31, 2018, under () IFRS and (2) U.S. GAAP b. Prepare the entrylies) that the U.S. parent would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert IFRS balances to U.S. GAAP