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In 2022, Ertz Company purchased land for $47,000. In 2024, the land was valued at $63,000. In preparing their balance sheet at December 31, 2024,

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In 2022, Ertz Company purchased land for $47,000. In 2024, the land was valued at $63,000. In preparing their balance sheet at December 31, 2024, Ertz Company should list the land at: $16,000 $47.000 $110,000 $55,000 $63,000 either (b) or (e) could be correct, depending on the method used to value the land none of the above choices are correct

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