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quick please Pfizer began to construct its headquarter building on January 1, 2018. Pfizer completed the construction of this building on September 30, 2019. The

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Pfizer began to construct its headquarter building on January 1, 2018. Pfizer completed the construction of this building on September 30, 2019. The following presents costs incurred on this construction project: January 1, 2018 $100,000 September 1, 2018 $300,000 December 31, 2018 $150,000 March 31, 2019 $300,000 September 30, 2019 $100,000 Pfizer borrowed $750,000 on a construction loan at 12% Interest on January 1, 2018 for this project. This loan was outstanding throughout the construction period. In addition, Pfizer had $4,500,000 in 10% bonds payable outstanding in 2018 and 2019 a. Calculate the amount of interest capitalized for 2019 using the specific interest method. Be sure to show your supporting calculation. (8 points) b. What is the cost of the building recognized in the 2019 balance sheet? (2 points) c. How much is the interest expense recognized in the 2019 income statement? (2 points)

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