1. S corp acquires its only building on Jan 1, year 1, at a cost of $4,000,000. The building has a 10- year life, zero residual value, and is depreciated on a straight-line basis. The company adopts the revaluation model in accounting for buildings. On Dec 31, Year1, the fair value of the building is $3,780,000. On Dec 31, year 2, Fair value is $3,000,000. On Dec 31, year 3, Fair value is $3,200,000 and January 2, year 4, the company sells the building for $3,500,000. Required (1) Prepare all related entries from Year 1 to Year 4. (2) Determine the amounts to be reflected in the financial statements related to this building in the following table: Date Cost Jan 1, Y1 Dec 31, Y1 Dec 31, Y2 Dec 31, Y3 Jan 2, Y4 Accumulated Depreciation BV OCI Income R/E