Presented below is information related to Teal Company.

1. On July 6, Teal Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land $435,000 Buildings 1,305,000 Equipment 870,000 Total $2,610,000 Teal Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $181 per share on the date of the purchase of the property.

1b. Teal Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. (Prepare consolidated entry for all transactions below.) Repairs to building $104,110 Construction of bases for equipment to be installed later 137,610 Driveways and parking lots 132,120 Remodeling of office space in building, including new partitions and walls 150,190 Special assessment by city on land 16,730

1c. On December 20, the company paid cash for equipment, $277,700, subject to a 2% cash discount, and freight on equipment of $10,120. Prepare entries on the books of Teal Company for these transactions. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places e.g. 58,971.