D. Capitalizing acquisition costs. (Critical Thinking and Writing Skills) Gibbs Manufacturing Co. was incorporated on 1/2/20 but was unable to begin manufacturing activities until 8/1/20 because new factory facilities were not completed until that date. The Land and Buildings account at 12/31/20 per the books was as follows: Date Item Amount 1/31/20 Land and dilapidated building $200,000 2/28/20 Cost of removing building 4,000 4/1/20 Legal fees 6,000 5/1/20 Fire insurance premium payment 5,400 5/1/20