Required information [The following information applies to the questions displayed below] On February 1, 2021, the Xilon Corporation issued 52,000 shares of its no-par common stock in exchange for five acres of land located in the city of Monrovia. On the date of the acquisition, Xilon's common stock had a fair value of $15 per share. An office building was constructed on the site by an independent contractor. The bullding was completed on November 2, 2021, at a cost of $7,300,000. Xilon paid $4,650,000 in cash and the remainder was paid by the city of Monrovia. 2. Assuming that Xilon prepares its financial statements according to International Financial Reporting Standards, select all the correct aiternatives the company has for recording the acquisition of the office bulling (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 2. Assuming that Xilon prepares its financial statements according to International Financial Reporting Standards, select all the correct alternatives the company has for recording the acquisition of the office bullding. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Same treatment as GAAP. Deduct the smount of the grant in determining the initial cast of the office building