2 a. State any TWO (2) examples of the contract-based intangible assets. b. (2 marks) Bayu Segar Bhd is a company that manufactures and sells candy-coated chocolates in Malaysia. On 1 January 2015, the company acquired a patent for RM2,400,000 to manufacture and sell "Gianduja" chocolate for the local market. "Gianduja" chocolate is a European style of chocolate made from chocolate and nut paste. The expected economic life of the patent is 5 years. As at 31 December 2016 the fair value of the patent was RM1,600,000. As at 31 December 2017 the fair value of the patent of Bayu Segar Bhd was RM800,000. In the year 2018, there was a company, Synergy Chocolate Bhd. manufactures and sells chocolates named 'Caramello' which uses locally produced cocoa powder. On 1 July 2018, a sufficient evidence was provided by a group of marketing analysts that 'Caramello' would give adverse effect to the selling of Gianduja in Malaysia. As a result of this effect. Bayu Segar Bhd expected that as at 31 December 2018, there would be a decline in the value in use of the patent to RM350,000 and the fair value less cost to sell to be RM250,000. The company adopts revaluation model for subsequent measurement of its intangible assets. Required: i. ii. Assess the accounting treatment of the patent for the year ended 31 December 2015 and 31 December 2016. (10 marks) Illustrate the Statement of Profit or Loss (extract) for the year ended 31 December 2017 and the Statement of Financial Position (extract) as at 31 December 2017. (3 marks) (Total: 15 marks)