Question $3(20$ marks$)$

Red's Bike Shop's year end is December $31.$ Some of the transactions are:

March $1-$Paid $$190,000$ cash to purchase the following assets:

$\backslash$table$[[$Asset$,\backslash$table$[[$Market$],[$Value$]],\backslash$table$[[$Est$.$ Useful$],[$Life$]],\backslash$table$[[$Est$.$ Residual$],[$Value$]]],[$Land$,$$$88,000,-,-],[$Building$,132,000,25$ years,$$14,000$