Wilderness owns and operates an item of plant that cost $640,000 and had accumulated depreciation of $400,000 at 1 October 20X4. It is being depreciated at 12.52% on cost. On ! April 20X5 (exactly half way through the year) the plant was damaged when a factory vehicle collided into it. Due to the unavailability of replacement parts, it is not possible to repair the plant, but it still operates, albeit at a reduced capacity. Also it is expected that as a result of the damage the remaining life of the plant from the date of the damage will be only two years. Based on its reduced capacity, the estimated present value of the plant in use is $150,000. The plant has a current disposal value of $20,000 (which will be nil in two years time), but Wilderness has been offered a trade-in value of $180,000 against a replacement machine which has a cost of S1 million (there would be no disposal costs for the replaced plant) Wilderness is reluctant to replace the plant as it is worried about the long-term demand for the product produced by the plant. The trade-in value is only available if the plant is replaced. Required: Prepare extracts from the statement of financial position and income statement of Wilderness in respect of the plant for the year ended 30 September 20X5