QUESTION 20 Harrod's inc. purchased land for 50.000 in 2007. At December 31, 2019. an appraisal determined the fair value of the land is s.000. If Harrods follows the historical cost principle, in the 2010 financial statements the land will be reported a. 650.000 on the statement of financial position b. 65.000 on the statement of financial position CE50,000 on the income statement d. 65.000 on the income statement