During January, Blair Corporation incurred transactions provided below: Purchase of a tract of land (site number 101) with a building on January 1, 2017 $ 500,000 Payment of real estate broker's commission 36,000 Legal fees 6,000 Title guarantee insurance 18,000 Land value indicated on the closing statement 500,000 Building value indicated on the closing statement 100,000 Cost to raze the building shortly after acquisition 54,000 Entered into a fixed-price contract with Slatkin Builders, Inc. on March 1, 2017, for the construction of an office building on land site number 101. The building was completed and occupied on September 30, 2018. $ 3,000,000 Additional construction costs were incurred as follows: Plans, specifications, and blueprints 21,000 Architects' fees for design and supervision 82,000 Estimated useful life of the building from date of completion 40 years Depreciation method used for building 150% declining balance Borrowing to finance construction costs on March 1, 2017 $ 3,000,000 Payment terms on loan: Number of installment payments 10 Amount of each annual installment, plus interest, starting March 1, 2018 $ 300,000 Interest rate 10% Weighted-average amounts of accumulated building construction expenditures: For the period March 1 to December 31, 2017 $ 1,300,000 For the period January 1 to September 30, 2018 1,900,000 (AICPA adapted) Instructions: (a) Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site number 101 as of September 30, 2018.Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September 30, 2018. Calculation of capitalized interest: Interest to be capitalized: 2017 2018 Actual interest: 2017 2018