9 The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Thompson has started the fixed-asset and depreclation schedule presented below You have been asked to assist in completing this schedule In addition to ascertaining that the data already on the schedule are correct you have obtained the following information from the company's records and personnet (EV of $1. PV ot $1. FVA of $1. PVA of Si. FVAD ot S1 and PVAD of $ (use appropriate factors) from the tables provided.) 10 a. Depreclation is computed from the first of the month of acquisition to the first of the month of disposition. b. Land A and Building A were acquired from a predecessor corporation. Thompson paid $862,500 for the land and building together C Land was acquired on October 2 2016 in exchange for 3500 ne y issued shares of Thompsons co mon stock At the date of At the time of acquisition, the land had a fair value of $114,000 and the building had a fair value of $836,000. acquisition, the stock had a par value of $5 per share and a fair value ot $30 per share. During October 2016, Thompson paid $10,900 to demolish an existing bullding on this land so it could construct a new building $260,000 of the estimated total construction costs of $350,000. Estimated completion and occupancy are July 2019 the fair value at $18,000 and the residual vaiue at $2,500 d. Construction of Building B on the newly acquired land began on October 1, 2017. By September 30, 2018, Thompson had paid e. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed t Machine A's total cost of s14 000 includes installation charges of $600 and normal repairs and maintenance of $13,000 Residuai 5 On October 1, 2017, Machine B was acquired with a down payment of $4,500 and the remaining payments to be made in 10 annual installments of $4,500 each beginning October 1, 2018. The pevalling interest rate was 7%. Supply the correct amount for each answer box on the schedule. (Round your final answers to nearest whole dollar.) 3 Answer is complete but not entirely correct THOMPSON CORPORATION Fixed Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2017, and September 30, 2018