Can you please help me with the Interest Capitalization worksheet?

On January 1, 2016, Blair Corporation purchased for $500,000 a tract of land (site number 101) with a building. Blair paid a real estate , legal fees of broker's commission of $36,000 $6,000 , and title guarantee insurance of $18,000 . The closing statement indicated that the land value was $500,000 and the building value was $100,000 . Shortly after acquisition, the building was razed at a cost of $54,000 Blair entered into a contract with Slatkin Builders, Inc. on March 1, 2016, for the construction of an office building on land site number 101. The building was completed and occupied on September 30, 2017. Additional construction costs were incurred as follows: The building is estimated to have a 40 year life from date of completion and will be depreciated using the 150% declining balance method. To finance construction costs, Blair borrowed $5,000,000 on March 1, 2014. The loan is payable in 10 annual installments of $500,000 plus interest at the rate of 10% , which will be paid at March 1. Blair's building construction expenditures were as follows: March 1, 2016: Plans and architects fees May 1, 2016: Construction cost Oct 1, 2016: Construction cost Dec 31, 2016: Construction cost Apr 1, 2017: Construction cost Aug 1, 2017: Construction cost $500,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $500,000 Instructions: (a) Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site number 101 as of September 30, 2017. BLAIR CORPORATION Cost of Land (Site #101) As of September 30, 2017 Cost of land and old building Real estate broker's commission Legal fees Title insurance Removal of Old Building Cost of land $500,000 36,000 6,000 18,000 54,000 $614,000 (b) Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September 30, 2017. Show supporting computations in good form. 2016 Plans and architects fees Costruction cost Costruction cost Costruction cost Total Avoidable interest: 2016 Actual interest: 2016 Interest to be capitalized: exp factor weighted exp $500,000 $1,000,000 $1,000,000 $1,000,000 $3,500,000 10% = 10% = 2017 Construction Cost Construction Cost exp factor weighted exp $1,000,000 $500,000 Total Avoidable interest: 2017 Actual interest: $1,500,000 = = = Interest to be capitalized: BLAIR CORPORATION Cost of Building As of September 30, 2017 Construction cost Interest capitalized during 2016 Interest capitalized during 2017 Cost of building $5,000,000 Mathews Company exchanged equipment used in its manufacturing operations plus $6,000 in cash for similar equipment used in the operations of Biggio Company. The following information pertains to the exchange. Biggio Co. Mathews Co. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up $54,000 $36,000 $25,000 $6,000 $44,000 $18,000 $31,000 Instructions (a) Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. Mathewes Book Value $18,000 Fair Value $25,000 Gain (Loss) Equipment (new) Accumulated Depreciation Equipment (old) Cash Baiggio Book Value $26,000 Fair Value $7,000 24,000 $36,000 $54,000 $6,000 $31,000 Gain (Loss) Cash loss on disposal of equipment Equipment (new) Accumulated Depreciation Equipment (old) $5,000 $6,000 $5,000 $15,000 $18,000 $44,000 (b) Prepare the journal entries to record the substance. the books of both companies. Assume that the exchange has commercial exchange on Book Value $18,000 Fair Value $25,000 Gain (Loss) Equipment Accumulated Depreciation Equipment cash gain on disposal of equipment Baiggio Book Value $26,000 Fair Value $31,000 $36,000 $54,000 $6,000 $7,000 $31,000 Gain (Loss) Cash Equipment Accumulated Depreciation Loss on Disposal of Equipment Equipment $7,000 $5,000 $6,000 $25,000 $18,000 ($5,000) $44,000