E9-2 Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] Bridge City Consulting bought a building and the land on which it is located for $195,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use