You have reached the end of the reporting year and are compiling information for the consolidated financial statements. You are looking at the impact of the fair value adjustments that you made in the goodwill calculation on the consolidated statement of financial position at 31 December 20X8. You have established the following information: fair value adjustment Fair value 1.7.x8 Usefull life 1.7.x8 property 15,000,000 15 years brand 10,000,000 5 years contingent liability -500,000 n/a Both the property and the brand remain in the statement of financial position of BestFoot Manufacturing at the reporting date. Also, the contingent liability remains outstanding at 31 December 20X8, the fair value at this date is B$600,000. What is the net adjustment to non-current assets and the expense to be charged to the statement of profit or loss for these fair value adjustments at the year ended 31 December 20X8? Solution A.Non-current assets: B$ 22,500,000 | Profit of loss: B$1,500,000 B.Non-current assets: B$ 22,500,000 | Profit of loss: B$1,600,000 C.Non-current assets: B$ 23,500,000 | Profit of loss: B$1,500,000 D.Non-current assets: B$ 23,500,000 | Profit of loss: B$1,600,000