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In fiscal 2023, Ayayai Realty Corporation purchased unimproved land for $57200. The land was improved and subdivided into building lots at an additicnal cost of
In fiscal 2023, Ayayai Realty Corporation purchased unimproved land for $57200. The land was improved and subdivided into building lots at an additicnal cost of $34,700. These buileling lots were all the same sure but, becaise of differences in location, were offered for sale at different prices, an follow: Operating expenses that were allocated to this project toballed $18,700 for the year. At year end, there were also unsold lots remaining as follows Determine the year end irventory and net income of Ayayai Realty. Ignore income taxes. (Do not round intermedlite colculations. Round final answers to 0 decimol places es. 5,275) Year-endinventory 5 Net income/(Loss) 5
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