. HEMI purchased land and a building for $360,000,000 on September 1, 2023. The land was appraised at $100,000,000, and the building was appraised at 300,000,000 for insurance purposes. Management estimates the building\'s residual value to be $20,000,000 at the end of its useful life of 20 years. HEMIs accountant wants you to: a. Calculate the cost of land and building in HEMIs accounting records (2 marks). b. If HEMI paid cash of $210,000,000 and borrowed $150,000,000 (Mortgage Payable) to purchase the land and building, provide the September 1 journal entry to record the purchase of land and building (4 marks). c. Calculate the building depreciation expense using the straight-line depreciation method that should be reported in the Statement of Income for the year ended October 31, 2023 (2 marks). d. Provide an October 31, 2023, adjusting journal entry to record the depreciation expense on the building and explain why you credited the contra-asset account rather than the asset account (2 marks).