Solutions provided in red, please show me the breakdown of where all the journal entry numbers are coming from.

On January 1, 2016, Newman Corporation set up an industrial waste recycling plant in Ingersoll, Ontario at a cost of $3,000,000. Newman was legally required to clean up the site and restore the environment to its original, pristine conditions at the end of its 15-year useful life, at an estimated cost of $400,000. Newman estimated that 40% of the cost of environment cleanup would be caused by building the plant itself, and that the remaining 60% of the cost by using the plant in waste recycling. Operations in 2016 and 2017 increased the cost of environment cleanup that would be incurred at the end of the plant's life by $20,000 and $12,000, respectively. The estimated residual value of the plant was $80,000, and Newman used straight-line depreciation. Newman prepares financial statements in accordance with IFRS. (1) Prepare journal entries to record the building of the plant, and the asset retirement obligation for the plant, on January 1,2016 . Use 5% as the discount rate. (7 marks) Property, plant and equipment Cash $3,000,000 $3,000,000 400,00040%.48102=76,963 Property, plan and equipment 76,963 Asset Retirement Obligation 76,963 (2) Prepare journal entries required for the plant and the asset retirement obligation at December 31, 2016. (9 marks) (3) Prepare journal entries required for the plant and the asset retirement obligation at December 31, 2017. (9 marks)