1. Daytona Freight Inc, near an airport, incurred the following costs to acquire land, make land improvements, and construct and farmish a small building The chart is as follows. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by Daytona Freight Inc c. Additional dirt and earthmoving d. Title insurance on the land acquisition e. Fence around the boundary of the property f. Building permit for the building g. Architect's fee for the design of the building h Signs near the front of the property i Materials used to construct the building j. Labor to construct the building k. Interest cost on construction loan for the building 1. Parking lots on the property m. Lights for the parking lots $80,000 $6,300 $9,000 $3,200 $9,600 $1,000 $20,700 $9,300 $215,000 $175,000 $9,400 $28,500 $11,200 PLEASE SHOW ALL EXCEL FORMULAS j. Labor to construct the building k. Interest cost on construction loan for the building 1. Parking lots on the property m. Lights for the parking lots n. Salary of construction supervisor (80% to building: 20% to parking lot and concrete walks) o. Furniture p. Transportation of furniture from seller to the building q. Additional fencing |$175,000 $9,400 $28,500 $11,200 $50,000 $11,200 $2,200 $6,600 Daytona Freight Inc depreciates land improvements over 15 years, buildings over 40 years, and furniture over 10 years, all on a straight-line basis with zero residual value. Requirements 1 Set up columns for Land, Land Improvements, Building, and Furniture. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. Activate V