$.$ XYZ Company revalues its buildings and decides to incorporate the evaluation into the

financial statements. The following information is relevant:

a$)$ Extract from the balance sheet at $31$ December $2006$

GHC$000$

Buildings at cost $30,000$

Accumulated Depreciation $9,000$

Net Book Value $21,000$

B$)$ Depreciation has been provided at $2\%$ per annum on a straight line.

c$)$ The building is revalued at $30$ June $2007$ at GHC$27,600,000.$ There is no change in the

remaining estimated future life.

Required

Show the relevant extracts from the financial statements at $31$ December $2007$