Several independent situations are described below: (1) The owner of the business includes his personal insurance expense on the entity's income statement for the period. (2) The cost of 10 waste paper baskets (cost RM10 each) was charged to expense when purchased even though they had a useful life of several years. (3) Land was reported at its estimated selling price, which is substantially higher than its cost. The increase in value was included as an income in the income statement for the period. (4) Depreciation expense was not recorded because to do so would result in a loss for the period. REQUIRED: (i) Indicate for each situation above the accounting principle(s) that are violated (if any). (4 marks) Explain each accounting principles from (1) to (4) in question. (6 marks) (ii)