ydin Ltd commenced operation of an apple farm. The trees were planted in 2012 and began producing saleable apples in 2018. On 30 June 2019, 80 per cent of the apples are sold, one week after they were picked, for a sales price of $220 000. Selling costs were $4 000. The remaining picked apples are recognised as inventories at the end of the reporting period, this being 30 June 2019.

The fair value of the apple trees at 30 June 2018 was $580 000 and, at 30 June 2019, $650 000. During the reporting period ending 30 June 2019, employee expenses, fertilisers, lease expenses and other expenses amounted to $40 000. The fair value less costs to sell the apples immediately after picking and packing amounted to $260 000. Picking and packing costs amounted to $16 000.

Required:

Prepare the journal entries to record:

(a) The costs incurred to maintain the biological assets.

(b) The harvesting of the agricultural produce from the biological asset.

(c) The sale of the agricultural produce.

(d) The changes in the fair value of the biological assets between the ends of the two reporting periods