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Lancey Supply, Inc., opened an offic in Ypsilant, Michigan. Lancey incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 20 years, and furniture over 12 years, all on a straight-line basis with residual values of zero. Read the reguirements. Requirement 1. Identify the proper account (Land, Land Improvements, Sales Building, Garage Building, or Furniture) for each of the costs listed in the problem. Calculate the total cost of each asset. Start with items a through i, next, enter items j through q, and lastly calculate the totals for each asset category. (If an input field is not used in the table leave the field empty; do not enter a zero. Round percentages to two places when calculating proportions (XXX\%), and use your computed percentages throughout. Round your final answers to the nearest whole dollar.) a. Purchase price of land, including an old building that will be used for a garage (land market value is $310,000; building market value is $90,000 ) $340,000 b. Grading (leveling) land 8,700 c. Fence around the land d. Attorney fee for title search on the land 31,500 e. Delinquent real estate taxes on the land to be paid by Lancey Supply 1,000 f. Company signs at entrance to the property 5,100 g. Building permit for the sales building 1,700 h. Architect fee for the design of the sales building 500 i. Masonry, carpentry, and roofing of the sales building 31,480 j. Renovation of the garage building 510,000 k. Interest cost on construction loan for sales building 40,140 l. Landscaping (trees and shrubs) 9,000 m. Parking lot and concrete walks on the property 6,200 n. Lights for the parking lot and walkways 52,400 o. Salary of construction supervisor ( 81% to sales building; 11% 7,900 to land improvements; and 8% to garage building renovations) 42,000 p. Office furniture for the sales building 79,800 q. Transportation and installation of furniture 2,600

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