Show me the steps to solve A$.$ Spectrum Ltd owns the following properties at $1$ April $2012$:

Property A:

An office building used by Spectrum for administrative purposes with a depreciated

historical cost of $$2$ million. At $1$ April $2021$ it had a remaining life of $20$ years. After a

reorganisation on $1$ October $2021,$ the property was let to a third party and reclassified as

an investment property applying Spectrum's policy of the fair value model. An

independent valuer assessed the property to have a fair value of $$2*3$ million at $1$ October

$2021,$ which had risen to $$2*34$ million at $31$ March $2022.$

Property B:

Another office building sub$-$let to a subsidiary of Spectrum Ltd$.$ At $1$ April $2021,$ it had a

fair value of $$1*5$ million which had risen to $$1*65$ million at $31$ March $2022.$

Required:

Prepare extracts from Spectrum Ltd$.\text{'}$s entity statement of profit or loss and other

comprehensive income and statement of financial position for the year ended $31$ March

$2022$ in respect of the above properties. Show all workings.

B$.$ Outline the conditions to be satisfied in order to be recognised as investment property.

$(5$ marks$)$

C$.$ Outline the initial measurement for investment property.

$(5$ marks$)$