On July 1 2021 Larkin Co purchased a $580.000 tract of and that is intended to be the site of a new office complex, Larion incurred additional costs and tealized selvage proceeds during 2021 as follows: Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap $71,000 13,200 9,800 What would be the balance in the land occount as of December 31, 2021 Milti Colom 5600,000 651.000 165.400 $664200