In your handwriting please give an appropriate answer to the following questions: #1. Big Veggie Inc. (BIGV) purchases land and a warehouse for $490,000. In addition to the purchase price, BIGV makes the following expenditures related to the acquisition: broker's commission, $29,000; title insurance, $1,900; and miscellaneous closing costs, $6,000. The warehouse in immediately demolished at a cost of $29,000 in anticipation of building a new warehouse. Determine the amount BIGV should record as the cost of the land. #2. Early in the fiscal year, The Beanery purchases a delivery vehicle for $40,000. At the end of the year, the machine has a fair value of $33,000. The company controller records depreciation expense of $7,000 for the year, the decline in the vehicle's value. Explain why the controller's approach to recording depreciation expense in not correct. #3. Granite Stone Creamery sold ice cream equipment for $16,000. Granite Stone originally purchased the equipment for $90,000, and depreciation through the date of sale totaled $71,000. What was the gain or loss on the sale of the equipment