On February $1,2024,$ Orso Corporation purchased a parcel of land which would

planned to be used as to build a new company headquarters. The land had an

existing building that Orso planned on removing$/$demolishing in order to build the

new company headquarters. The cost of the land plus the existing building was

$$100,000.$ After the purchase Orso demolished the old building on the property and

began construction on a new building that was completed on May $2,2024.$ Costs

incurred during this period are:

At what amount should Orso record the cost of the land? $($do not use dollar signs,

commas, or decimals in your answer$)$

A

At what amount should Orso record the cost of the building? $($do not use dollar

signs, commas, or decimals$)$