Greenhouse Nursery purchased land for $$100,000,$ removed a building that cost $$10,000,$ cleared and graded the land at a cost of $$7,500,$ incurred legal

fees of $$50,000,$ and installed a parking lot for $$6,000$ and a fence for $$3,500.$ All items were paid by cash.

Instructions

$($a$)$ Calculate the cost of the land.

$($b$)$ Calculate the cost of the land improvements.

$($c$)$ Record the purchase of the land and land improvements.