Texas Inc. is a manufacturer of suitcases that are sold at F2C outlets. The following transactions and events occurred during the year under review:

a. From the beginning of the year, the remaining useful life of the plant and equipment was estimated at 4 years instead of 7 years.

b. Bonuses of $12 million, compared with $2.3 million in the previous year, had been paid to employees. The CFO explained that a new incentive scheme has been approved since all employees are involved in increasing sales.

c. There was a $1.25 million profit on the nationalization of land.

d. During the year the company was responsible for establishing the ECA Foundation, which provided funding to welfare organizations. This foundation is part of the company's social investment program. The company contributed $7 million to the fund.

Required: Explain how each of the transactions and events mentioned above would be treated in the current year statement of profit and loss.