The fair value of Jerry Ltd property on January 1, 20x8 was $300,000 and it has a remaining useful life of 20 years. Jerry uses the revaluation model. Therefore, on the 31, December 20x8 the property was valued at $187,000. The balance on the revaluation surplus at January 1, 20x8 was $60,000 which relates entirely to the property. Jerry Ltd does not make a transfer to realise profit in respect of excess depreciation. Required: Prepare extract of Jerry's financial statements for the year ended 31, December 20x8 reflecting the above information