You are preparing the year$-$end accounts at the end of $2018$ for Nicoson Oil

Company Limited. You have been told that anticipated Decommissioning Costs for the Edmonton Field is $$250$ million, and the work will take place in $2028.$ The company normally applies a $10\%$ discount factor to future cashflows when converting them to a present$-$day value.

At the end of year $2021,$ it was realized that costs expected to be incurred to decommission the field would increase to $$280$ million.

At the end of year $2021,$ it was realized that costs expected to be incurred to decommission the field would increase to $$280$ million. In addition, at the yearend $2026,$ few years to the decommissioning, the Company estimated that an additional $$70$ million will be needed increasing the expected decommissioning cost to $$350$ million. At the time of decommissioning the Field by $31$st December $2028$ the actual cost incurred for decommissioning is $$375$ million.

As the Accountant for the Company, you are required to generate the relevant accounting entries for the years ending $2018$ to $2028.$ Clearly indicate which entries are for the Income Statement and the Statement of Financial Position $($Balance Sheet$)$