On March 1, 2018, Geoffrey Company acquired real estate, on which it planned to construct a small office building, by paying $90,000 in cash. An old warehouse on the property was demolished at a cost of $ 8,200; the salvaged materials were sold for $1,700. (SO 1) Additional expenditures before construction began included $1,500 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $9,100 architect's fee, and $14,000 to put in driveways and a parking lot.