During 2018, Tao's Book Store paid $482,000 for land and built a store in Miami, Florida. Prior to construction, the city of Miami charged Tao's $1,200 for a building permit, which Tao's paid. Tao's also paid $15,200 for architect's fees. The construction cost of $679,900 was financed by a long-term note payable, with interest costs of $28,180 paid at the completion of the project. The building was completed June 30, 2018. Tao's depreciates the building using the straight-line method over 35 years, with estimated residual value of $335,000. Read the requirements, Requirement 1. Journalize transactions for the following (explanations are not required): a. Purchase of the land, b. All the costs chargeable to the building in a single entry, and c. Depreciation on the building for 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Journalize the purchase of the land. Journal Entry Date Accounts Debit Credit Requirements b. Journalize all the costs chargeable to the buildin Journal Entry 1. Journalize transactions for the following (explanations are not required): a. Purchase of the land b. All the costs chargeable to the building in a single entry c. Depreciation on the building for 2018 2. Report Tao's plant assets on the company's balance sheet at December 31, 2018. 3. What will Tao's income statement for the year ended December 31, 2018, report for these facts? Date Accounts Choose from any list or enter any number in the Print Done During 2018, Tao's Book Store paid $482,000 for land and built a store in Miami, Florida. Prior to construction, the city of Miami charged Tao's $1,200 for a building permit, which Tao's paid. Tao's also paid $15,200 for architect's fees. The construction cost of $679,900 was financed by a long-term note payable, with interest costs of $28,180 paid at the completion of the project. The building was completed June 30, 2018. Tao's depreciates the building using the straight-line method over 35 years, with estimated residual value of $335,000. Read the requirements. Requirement 2. Report Tao's plant assets on the company's balance sheet at December 31, 2018. Balance Sheet Plant assets: Less: Requirement 3. What will Tao's income statement for the year ended December 31, 2018, report for these facts? Income Statement Choose from any list or enter any number in the input fields and then continue to the next