A company under IFRS revalues its land from \$1,000,000 to \$1,200,000. How should this be reflected in the financial statements?

Recognize a \$200,000 increase in deferred tax liabilities on the balance sheet.

Recognize a \$200,000 revaluation surplus in other comprehensive income.

Recognize a \$200,000 unrealized gain in current net income immediately.

Do not recognize any change until the land is sold to third parties.