Applied auditing question

1:16 P y V ON all 81% ACTIVITY 2 DEF Co. commenced operations on January 1, 2018. During the following year, the company acquired a tract of land, demolished the building on the land and built a new factory. Equipment was acquired for the factory and in September 2019, the plant was ready to commence operation. A gala opening was held on September 18, with the City Mayor opening the factory. The first items were ready for sale on September 25. During the period the following cash inflows and outflows iccured. a) While searching for a suitable block of land, DEF Co. placed an option to buy with three real estate agents at a cost of P 1,000 each. Payment of option fees P 3,000.00 b) Receipt of loan from bank 3,000,000.00 c) Payment to settlement agent for title search, duties, and settlement fees 100,000.00 d) Payment of deliquent property taxes assumed by Star Company 50,000.00 e) Payment for land 1,000,000.00 f) Payment for demolition of old building 120,000.00 g) Proceeds from sale of material from old building 55,000.00 h) Payment to architect 230,000.00 i) Payment to City Hall for approval of building construction 120,000.00 j) Payment for safety fence around construction site 34,000.00 i) Payment to construction contractor for factory building 2,400,000.00 k) Payment for external driveways, parking bays and safety lighting 540,000.00 1) Payment of interest on construction loan 400,000.00 m) Payment for safety inspection on building 30,000.00 n) Payment for equipment 640,000.00 o) Payment of freight and insurance costs on delivery of equipment 56,000.00 p) Payment of installation cost on equipment 120,000.00 q) Payment for safety equipment surrounding equipment 1 10,000.00 r) Payment for removal of safety fence 20,000.00 s) Payment for new fence surrounding the factory 80,000.00 t) Payment for advertisements in the newspaper about the forthcoming factory and its benefits to the community 5,000.00 u) Payment for opening ceremony 60,000.00 v) Payments to adjust equipment to more efficient operating levels subsequent to initial operation 33,000.00 REQUIRED: Identify the costs of the following: 1 Land 2 Building 3 Land Improvements 4 Equipment 5 Expenses (excluding depreciation) O A