Ocean Waves Transport purchased new equipment for its offices across Canada. For each cost determine if it should be capitalized and Included in the Equipment account. For each of these items below, write down COST if you think the item should be added to the cost of equipment or EXPENSE If you think the item should be expensed instead. (5 marks) a. b C d. Purchase price of the equipment Installation & Set-up costs for the equipment to get the equipment ready for usage Cost of utilities used by the equipment after it is installed Cost of storing the equipment in the warehouse after it is installed Annual Insurance on the equipment after it is purchased e