Part 1: ABC Corporation purchased land to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price, 73,000; broker's fees, 6,000; searching and other fees, 5,300; demolition of an old building on the land, 5,700; laying and paving driveway, 25,000; lighting 7,500; signs, 1,500. What is the total cost of the land? (show the items that should be included in the cost of the land). Part 2 Greg's Company purchased a delivery truck for $50,000 on Jan 1, 2016. The truck was assigned an estimated useful life of 5 years and has a residual value of $10,000. Compute the annual a depreciation expense using the straight-line method. Part 3 Assume Greg's company decide to sell the truck after the second year 2017. Prepare the journal entries to record the sales of the truck according to the following situation. A. The truck was sold at the end of 2017 for $35,000 B. The truck was sold at the end of 2017 for $30,000