During 2016; Lee's Book Store paid $488,000 for land and built a store in Baltimore. Prior to construction the city of Baltimore charged Lee's $1 700 for a building permit, which Lee's paid. Lee's also paid $15 700 for architect's fees. The construction cost of $705,000 was financed by a long-term note payable, with interest cost of $30, 040 paid at completion of the project. The building was completed June 30. 2016. Lee's depreciates the building by the straight-line method over 35 years, with estimated residual value of $340,000. Report Lee's Book Store's plant assets on the company's balance sheet at December 31, 2016. What will Lee's income statement for the year ended December 31, 2016, report for these facts