DEMONSTRATION CASE Diversified Industries (DI) started as a house construction company. In recent years, it has expanded into heavy construction ready-mix concrete, sand and eravel, construction supplies, and earth-movine services. The company completed the following excel transactions durine the year. Amounts have been simplified. Jan. 1 Nanagement deciced to buy a ten-year-olc bulding for $175,000 and the land on which it was situated for $130,000 DI paic $100,000 in cash and signec a note payable for the rest. Jan 3 Di paid $38.000 in cash for renovatons to the builsing prior to its use. July 10 DI paid $1.200 cash for ordinary repairs on the bulling Dec. 31 Ol determined year-enc acjustments. Paje 438 On December 31, DI considered the