remaining tabs:

2) Record the year-end adjusting entry for the depreciation expense of Building 3.

3) Record the year-end adjusting entry for the depreciation expense of Land Improvements 1.

4) Record the year-end adjusting entry for the depreciation expense of Land Improvements 2.

Requlred Informetlon [The following information applies to the questions displayed below. In January 2018, Mitzu Co. pays $2,650,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $737,500, with a useful life of 20 years and a $75,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $413.000 that are expected to last another 14 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,799,500. The company also incurs the following additional costs Cost to demolish Building 1 Cost of additional land grading Cost to construct new building (Building 3), having a useful life of 25 years $344,488 193,480 2,222,98e 173,88e and a $398,808 salvage value Cost of new land improvements (Land Improvements 2) near Building 2 having a 28-year useful life and no salvage value Requlrec 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each colum. Total Cost fApportioned Cost Percent of Total Allocation of Purchase Price alue Land Building 2 Land I Totals Land Building2 Building3 Purchase Price Land grading New building (Construction cost) New i Totals