Park Company purchased land for a manufacturing facility for 1,100,000. The company paid 70,000 to tear down a building on the land. Salvage was sold for 10,500. Legal fees of 6,500 were paid for title investigation and making the purchase. Architect's fees were 40,500. Title insurance cost 4,500, and liability insurance during construction cost 13,500. Excavation cost 12,000. The contractor was paid 1,357,000. A one-time assessment made by the city for sidewalks was 7,500. Park company installed lighting and signage at a cost of 11,000. The cost of the land that should be recorded by Park company is 2. The cost of the building that should be recorded by Park company is 3. Park company should record land improvements of 4. Park Company purchased a depreciable asset for 1,360,000. The estimated salvage value is 360,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? 5. Park Company purchased a depreciable asset for 2,000,000. The estimated salvage value is 150,000, and the estimated useful life is 400,000 hours. Kleinschmidt used the asset for 35,000 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? On January 1, 2025, Park Inc. purchased equipment with a cost of 4,500,000, a useful life of 12 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2025, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 3,850,000. The asset's value-in-use is estimated to be 3,500,000. There is no change in the asset's useful life or salvage value. 6.The 2025 income statement will report Loss on Impairment of 7. For 2025, Park Company reports beginning of the year total assets of $900,000, end of the year total assets of $1,100,000, net sales of $1,250,000, and net income of $250,000. Park's 2025 asset turnover is 8. The rate of return on assets for Hoyle in 2025 is