On January 1, 2021 the Blackstone Corporstion purchased a tract of land site number it with a building for $780.000. Additionally, Blackstone paid a real estate broker's commission of $54.000, legal fees of $5.000. and title insurance of $27.000. The closing statement indicated that the land value was $590,000 and the building value was $190,000. Shortly after acquisition, the building was rezed cost of $93.000. Backstone entered into a $4.900.000 fixed-price contract with Barnett Builders, Inc., on March 1, 2021, for the construction of an office building on land se 12 The building was completed and accupled on September 30, 2022 Adeltional construction costs were incurred as follows: Plans, specifications, and blueprints Architects' fees for design and supervision $ 30,00 To finance the construction cost. Backstone borrowed $4.900.000 on March 1, 2021. The loan is payable in 10 annual installments of $480,000 plus interest at the rste of 14%. Blackstone's everge amounts of accumulated bulling construction expenditures were ss follows: For the period March 1 to December 31, 2021 For the period January 1 to September 30, 2022 $1,682,80 3,280, Required: 1. Prepare a schedule that discloses the Individual costs making up the balance in the land account in respect of land site les of September 30, 2022 2. Prepare a schedule that discloses the Individual costs that should be capitalized in the office building account as of September 30, 2022 Complete this question by entering your answers in the tabs below. Required 1 Rund 2 Prepare a schedule that discoses the individual costs maidng up the balance in the land account in respect of land site 11 of September 30, 2022. BLACKSTONE CORPORATION Land Account Sita Number 11) As of Beptember 30, 2022 Balance, September 30, 2022 Roque Required 2 > On January 1, 202, the Blackstone Corporstion purchased atract of land alte number II) with a buliding for $790.000 Additionally, Becicstone paid a real estate broker's commission of $54.000, legal fees of $5.000, and title insurance of $27.000. The closing statement indicated that the land value was $590,000 and the building value was $190,000. Shortly after acquisition, the building was rezed at a cost of $93.000. Blackstone entered into a $4.900.000 fixed-price contract with Barnett Builders, Inc., on March 1, 2021, for the construction of an office building on land te 12 The building was completed and occupied on September 30, 2022 Adeltional construction costs were incurred as follows: Plans, specifications, and blueprints Architects' fees for design and supervision 102,00 To finance the construction cost. Blackstone borrowed $4.900.000 on March 1, 2021. The loan is payable in 10 annual installments of $480,000 plus interest at the rate of 149. Blackstone's sverge amounts of accumulated burcing construction expenditures were ss follows: For the period March 1 to December 31, 2021 For the period January 1 to September 30, 2022 $1.080, 3,200,00 Required: 1. Prepare a schedule that discloses the Individual costs making up the balance in the land account in respect of land site les of September 30, 2022 2. Prepare a schedule that discloses the Individual costs that should be capitalized in the office building account as of September 30, 2022 Complete this question by entering your answers in the tabs below. Required 1 2 Prepare a schedule that discoses the individual costs that should be capitalized in the office building account as of September 30, 2022. (Do not round Intermediate calculations.) BLACKSTONE CORPORATION Capital and cost of Office Building As of Beptember 30, 2022 Total capitalized cost, September 30, 2002