Part A. (4 marks). Singh Company purchased a $65,000 tract of land for a new manufacturing facility. Singh demolished an old building on the property and sold the materials it salvaged from the demolition. Singh incurred additional costs and realized salvage proceeds as follows: Demolition of old building Routine maintenance (mowing) done on purchase Proceeds from sale of salvaged materials Legal fees Title guarantee insurance Required: 1. What balance should Singh report in the land account? Balance in Land account: $62,000 5,000 22,400 18,000 11,200 2. If any item(s) in the list above are excluded from the land account, indicate the appropriate classifications