extion 1 Harris Ltd operates various supermarkets in NSW. A few years ago Harris purchased some land hoping to, use that land for ane of its new supermarket stores. However, plans recently changed and the land in question was instead sold at a profit of $100,000, Is this $100,000 profit from selling land by Eastfield Ltd likely to be assessable as ordinary income? 3. Yes, as the company had a profit making intention in this arrangement and even though the transaction is extraordinary it can be viewed as ordinary income. b. No, the facts indicate that when Harris Ltd purchased the land it hadn't the intention of keeping that land and one day building a supermarket on that land to operate. c. Yes, because all business receipts are likely to be assessable as ord nacy income d. No, the facts indicate that when Harris Ltd purchased the land it had the intention of keeping that land and one day building a supermarket on that land to operate. Clear my choice