2. EX.09-03 ALGO (Algorithmic) Determining Cost of Land acquired an adjacent lot to construct a new warehouse, paying $34.000 and giving a short-term note for SB1,000. Leg-feet pad were $1,360deigm, tan "uned wer $ 12,200and fees paid to remove an od bling from the land were S 19,300. Materals salvaged mom the demoiton or the bueding were sold for H,700 A oortredo was warehouse Determine the cost of the land to be reported on the balance sheet