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Johnson Products Co, acquired Land and a Building on January 1, 2017 at a cost of s 900,000. Further, prior to occupying / using the

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Johnson Products Co, acquired Land and a Building on January 1, 2017 at a cost of s 900,000. Further, prior to occupying / using the real estate, Johnson incurred S 200,000 to demolish a small building on the property (this demolition cost was needed to make the property suitable for Johnson Products Co. use In addition, the following added expenditures were paid by Johnson during 2017 19. Attorney's fee for the purchase of the Land and Building S 4,000 Real estate broker's commission paid by Johnson Products to acquire the Land and Building 16,000 Utilities paid for the operation of its business for its first year 20,000 Salaries of maintenance personnel of the Building for the first year of the operation of the Building Insurance premium paid to insure the Building for the policy period January 1, 2017-January 1, 2018 (considered an operating expense) 30,000 Cost to add two bathrooms to the Building in order to accommodate the number of employees that Johnson Products Co. has and will use the building 80,000 What is the Cost of the Real Estate that should be reflected by Johnson Products Co. at the end of '2017' in the general ledger account 'BUILDING

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