Kirsh Corporation purchased land as a factory site and contracted with Heathercote Construction to construct a factory. Kirsh made the following expenditures related to the acquisition of the land, building, and equipment for the factory:

Purchase price of the land

Demolition and removal of old building

Clearing and grading the land before construction

Various closing costs in connection with acquiring the land

Architect's fee for the plans for the new building

Payments to Heathercote for building construction

Equipment purchased

Freight charges on equipment

Trees, plants, and other landscaping

Installation of a sprinkler system for the landscaping

Cost to build special platforms and install wiring for the equipment

Cost of trial runs to ensure proper installation of the equipment

Fire and theft insurance on the factory for the first year of use

$$1,350,000$

$95,000$

$225,000$

$57,000$

$65,000$

$3,400,000$

$935,000$

$47,000$

$60,000$

$6,500$

$27,000$

$8,500$

$39,000$

In addition to the above expenditures, Kirsh purchased four forklifts from the Toronto Equipment Supply Company. In payment, Kirsh paid $$109,704$ in cash by sending a cheque.

Required:

Determine the amount Kirsh would record for each of the assets acquired in the above transactions.

$\backslash$table$[[$Assets$,$Initial valuation$],[$Land$,],[$Building$,],[$Equipment$,],[$Land improvements,$],[$Fork lifts,$],[$Prepaid insurance,$]]$