Beluga Limited has the following research and development projects occurring during the financial year ending 30 June 2021 1. Project Alpha - continues from the previous year, when it was judged to be a successful project based on the expected future sales compared to the costs to complete. Cost of $1,800,000 were capitalised to 30 June 2020 last year and further costs of $450,000 were incurred up to 1 March 2021 when the new product was successfully launched. The new product has an estimated life of 5 years and benefits will be spread evenly throughout its life 2. Project Delta - commenced on 1 July 2020. On 1 November 2020, it was anticipated that the project would be successful and that there were sufficient resources available to complete it. Costs incurred from 1 July 2020 to 31 October 2020 were $600,000. Costs incurred from 1 November 2020 to 30 June 2021 total $760,000. 3 Project Kappa. Commenced on 1 May 2021 and costs of $100,000 have been incurred to date. as of yet, the directors of Beluga do not know if the project will be successful. In relation to the above projects, identify the values that will be reported on the statement of profit or loss and statement of financial position as at 30 June 2021: A. Account $ Statement of profit or loss Research expense 700,000 Statement of profit or loss Amortisation expense 150,000 Statement of financial position Intangible assets (net) 2,860,000 B. Account $ Statement of profit or loss Research expense 100,000 Statement of profit or loss Amortisation expense 112,500 Statement of financial position Intangible assets (net) 3,610,000 C. Account $ Statement of profit or loss Research expense 100,000 Statement of profit or loss Amortisation expense 150,000 Statement of financial position Intangible assets (net) 3,010,000 D. Account $ Statement of profit or loss Research expense 700,000 Statement of profit or loss Amortisation expense 112,500 Statement of financial position Intangible assets (net) 2,867,500