On March 1, 2024, Beldon Corporation purchased land as a factory site for $71,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2024. Costs incurred during this period are listed below: Demolition of old building Architect's fees (for new building) Legal fees for title investigation of land Property taxes on land (for period beginning March 1, 2024) Construction costs Interest on construction loan $ 9,500 10,000 7,500 4,100 610,000 10,500 Salvaged materials resulting from the demolition of the old building were sold for $3,100. Required: Determine the amounts that Beldon should capitalize as the cost of the land and the new building. Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the land. Note: Amounts to be deducted should be indicated with a minus sign. Capitalized cost of land: Total cost of land Capitalized cost of land: Architect's fees Construction costs Demolition of old building Interest on construction loan $ 0 st of Land Determine the amounts that Beldon should capitalize as the cost of Note: Amounts to be deducted should be indicated with a minus sig Capitalized cost of land: Interest on construction loan Legal fees for title investigation Property taxes on land Purchase price Sale of materials $ 0 st of Land C Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the new building. Note: Amounts to be deducted should be indicated with a minus sign. Capitalized cost of building: Total cost of building $ 0 Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the new building. Note: Amounts to be deducted should be indicated with a minus sign. Capitalized cost of building: Architect's fees Construction costs Demolition of old building f Land Cost of New Building Interest on construction loan Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the new building. Note: Amounts to be deducted should be indicated with a minus sign. Capitalized cost of building: Demolition of old building Interest on construction loan Legal fees for title investigation of land Property taxes on land Purchase price $ 0 f Land Cost of New Building >