Acquisition Cost of Long-Lived Assets The following items represent expenditures (or receipts) related to the construction of a new home office for Lowrey Company. Cost of land site, which included an old apartment building appraised at $75,000 $167,000 Legal fees, including fee for title search 2,300 Payment of apartment building mortgage and related interest due at time of sale 9,400 Payment for delinquent property taxes assumed by the purchaser 4,200 Cost of razing the apartment building 19,000 Proceeds from sale of salvaged materials (4,000) Grading to establish proper drainage flow on land site 2,100 Architect's fees on new building 320,000 Proceeds from sales of excess dirt (from basement excavation) to owner of adjoining property (dirt was used to fill in a low area on property) (2,200) Payment to building contractor 7,000,000 Payment of medical bills of employee accidentally injured while inspecting building construction 1,600 Special assessment for paving city sidewalks (paid to city) 20,000 Cost of paving driveway and parking lot 27,000 Cost of installing lights in parking lot 11,200 Premium for insurance on building during construction 9,500 Cost of open house party to celebrate opening of new building 10,000 Required From the given data, calculate the proper balances for the Land, Building, and Land Improvements accounts of Lowrey Company. Land $ 0 Building 0 Land Improvements $ 0