Company E purchased a piece of land for $310,000 in December 2022. The old building on the land was razed and demolished. The salvaged materials from demolition were sold. Additional information are as follows:

Cost to raze old building		$26,000
Legal fees for purchase contract		4,000
Title guarantee insurance		3,000
Proceeds from sale of salvaged materials		5,000

In Company Es December 31, 2022 Balance Sheet, what amount should be reported as land?

• A.

  $315,000

• B.

  $338,000

• C.

  $348,000

• D.

  $336,000