6. On May 1, 2021, FINN Corporation purchased for P1,200,000, a tract of land on which a warehouse and office building were located. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land 720,000 400,000 Warehouse 450,000 320,000 Office Building 330,000 280,000 The initial amount recorded for (a) land; (b) warehouse; (c) office building 7. GREY Company acquired a piece of land with an existing building for a total consideration P1,500,000. GREY Company intends to demolish the existing building and construct a new one. The fair value of the land and existing building at acquisition date were P1,450,000 and P250,000 respectively. Additional cost incurred in relation to the property is as follows: Commission fees paid to real estate agent 80,000 Cost of demolishing old building 45,000 Proceeds from salvage of demolished old building 15,000 Cost of land fill and clearing 90,000 Land survey 25,000 Building permit 30,000 Excavation costs 35,000 Temporary quarters for construction crews 15,000 Installation of fences around the property 65,000 Cost of paving the driveways and parking bays 25,000 Interest paid on money borrowed for construction 150,000 Payment for construction of new building 1,200,000 Opening ceremony costs of new building 50,000 Identify the costs to be charged as Land, Land Improvements and Building